Opening a server and joining it will cause the game to render incorrectly (certain chucks loading, most not)

What I expected to happen was...:
Download the server from minecraft forums, play with my friends like every other day.

What actually happened was...:
Opening the server and connecting via IP and "localhost" caused the server to render incorrectly(the bottom of a chuck loading there, the top of one there, the rest was nothingness).

Steps to Reproduce:
1. Download the 14w26b or "c" server.
2. Open it up.
3. Open minecraft and connect through IP(if you have your internet firewall OK with it, AKA setting up your server, find your IP at ipchicken.com) or by direct connecting with the IP of "localhost"(only requires the server to be open on the same computer. I suggest you use "localhost")
4. Watch the nothingness chaos happen
Comment: My graphic card has 1 gig of memory and I have 8 gigs(4 gigs allocated to the Java virtual machine) and this did not happen on a normal world.