I went into 14w32d and created a new World with max video settings except render distance. Then i maxed my render distance. Everything was going good but then i turned the vbos off. The video I uploaded here shows what happened and the screenshot with F3 shows what happened after I turned the vbos on again.

Basically VBOs off above render distance 16 causes render bugs.
Note: With render distance 16 and vbos off there are no graphical issues.