I loaded a new world with the snapshot, saw I still had my 1.7 texture pack on. So I loaded the default one in the settings and this happened:

http://i.imgur.com/RJMub8m.png

http://i.imgur.com/N9lFjGL.png

http://i.imgur.com/O0HCPSS.png

I can still move through it (seen in the second picture).

Reloading the world doesn't solve the problem.

Just loaded another world, water still renders wrong (like stone slabs).

There's also no texture (well, the no-texture texture) when I throw splash potions (might be because of reloading the texture pack, but can also be a bug that applies to everyone)