Basically every single body of water i've generated since the update has been a coral reef, even if it was a river, elements of coral reefs were trying to spawn, such as sea pickles. Thought that it might have been a coincidence, but after exploring a decent sized area (Probably around 800x800) I decided it was probably a bug with how water is generating. 

I was flying most of the time, so screenshots were hard to get, but I attatched what I got.

(Two of these screenshots are from a video listed in the comments, which also may seem to have the same problem).