Textures turn pink (after playing for long periods of time)

From my understanding, this bug occurs due to how the game's engine stores entity information. There appears to be a breaking point where, after a large amount of entity data is stored, the game's engine runs out of memory for new entity information, which causes newly loaded textures to default to pink.

I've heard that the "Remove texture limit option" does not fix this issue, but may decrease the chances of it happening.

The best way to replicate this bug (keep in mind that this bug is rare and difficult to reproduce, as it only seems to occur after playing for hours) is:

• Connect to a large server with many custom textures and a high player count (The Hive is a great server for this).
• Continually load new chunks by moving between lobbies in the game.