Glitchy block textures and flashing screen

I don't know what triggered the bug.

I was just building in my Creative world and then the screen starts flashing and all the blocks become transparent and have a cloud like texture.

Pressing f1 will bring you to a "Minecraft has lost memory!" crash page.

Mojang, FIX THIS.

EDIT: This bug may cause seizures. The bug will also sometimes stop.