I'm loving the new update despite how big of a change it is. The world feels more alive... so much so that when I'm walking around I'll sometimes see red squares pop up on the ground texture as another layer and disappear as I approach them, or shortly fades out. It's odd, I'm almost wondering if it's how the game is viewing certain seeds from loading in i.e. tiny pebbles on the ground, fern patches, etc.
This is happening on mine for multiplayer as well. My husband doesn't have the issue while playing together but it's happening all over red/organe sqaure patches that disappear as I get closure that pixels that aren't rendering.
This started happening in my first realm when it started raining. I did have to go back to restart the game maybe 30 minutes prior to this due to sudden lag/stuttering for no apparent reason when exploring the climbing pick treasured item location. I'm not sure if that had anything to do with the red squares appearing later or not, but I figured I'd mention it just in case.