Graphical Skin Glitch

Found a graphical glitch while playing in the 1.8 snapshots

How to Reproduce
1. Log in with an account, and open a LAN world
2. Re-open your launcher, log out of the first account (but keep that game open) and log in with a second account
3. Have the second account join the LAN world

The textures as you can can see are all over the place.