Selecting specific items breaks all block textures.

Affects all modes.

Item List:
-Redstone torches
-Regular torches
-Lever
-Tripwire hook
-All flowers/Grass/Fern
-Both mushrooms
-Iron Bars
-All Glass Panes
-Ladders
-Vines
-Lily Pad
-All Saplings
-Cobweb
-All Rails

Note: When in default, all broken textures turn black. When in a resource pack, all textures become clear.
-Upon selecting in the hotbar, all block textures break.

-Some creative tabs are affected (Blocks, Decorations, Transport)

-No particle textures. (Explosions have textures)

-All non-placeable items (eg pickaxe, potion, sword) have textures when held.

-All chests have textures. (GUI also has texture)

-Except chests, all inventory blocks do not have a block texture when placed. Still have GUI texture

-Water renders as grey with normal animation

-Lava renders as white with normal animation

-All redstone items (torches, buttons, redstone parts) have no texture when placed

-All mobs render properly

-Doors have no texture when placed.

-Rail has no texture

Additional Notes:
-1 resource pack is installed (Sphax Pure BD 128x for 1.7.2)
-All textures break regardless of resource pack (tested with above pack)
-Re-opening the world (without item list selected) fixes textures until items are selected
-Refreshing texture pack " " "
-F3 + A does not affect issue.
-F5 (3rd person) does not affect issue
-F1 (no Hud) mode prevents textures breaking when objects are selected after entering mode.
-When using a texture pack, all blocks become completely untextured (clear)

Attached are the examples. Titles are via the game's naming system.
Image 1 has texture pack as listed (Sphax)
Image 2 is prior to selecting items and with no hud and having the items selected
Image 3 is when one of the items are selected. Water is left (grey) and Lava is right (white)