FPS low causing crashes, errors, and unplayability.
Updated to launcher 1.0.9 and average FPS dropped from 40 to 15. Research points to new launcher not recognizing/selecting appropriate video processor.
FPS drop caused the world I was playing to first "erase" entire chunks replacing them with a dark, inaccessible hole. Then generated so many sheep it crashed the game. Also when this world is played the launcher console will not close. Attached is the world save folder.