graphical glitch

when ever i hold a sprite based item like a sapling or flower i am instantly greeted withe a missingno like glitch, in which all of the textures including drops, randomly fluctuate in random pixels and colors, some times with no texture at all. but when holding a block the fluctuation stop and stays on the last set of random pixels. it doesn't affect chests and mobs. i can still play normal it seams to be just textures. also this is with a clean .minecraft folder with some old saves and texture packs(the texture wasn't in use and i was in a new 1.7.2 world, and also affects old world saves)