Fluids do not render as FallingSand entities

Upon creation of a FallingSand entity, if it is a water or lava block (minecraft:water, minecraft:flowing_water, minecraft:lava, or minecraft:flowing_lava) it will not render at all. The shadow still appears, and when it touches the ground it will still place, but it is a minor visual bug regardless. It can be reproduced via the following command:

/summon FallingSand ~ ~1 ~ {Block:water, Time:1, Motion:[0.0,0.3,0.0]}.

It will spawn a block, but it will not appear until it touches the ground. It helps to be in third-person view to witness this. This bug is specific to fluids only; sand, stone, etc. still appear to spawn and appear fine.

I am aware that this was reported previously as MC-1300, but it was incorrectly marked as resolved. Either the fix didn't work, or the bug resurfaced sometime between 1.4.2 and 1.8. I will continue testing in 1.7 to see if it's snapshot specific.