Old world type sometimes does not render on the borders of the map

This problem has occured since the 1.1 update, and has never been patched in 1.1.1, 2 or 3.
The map is old-type and is relatively large in size. When opened, the map does not render fully, no matter waiting for how long. On one side of the borders, I can go pass and see all the flames (lightings) and "feel" the textures but everything is invisible beyond that truncated border. On other sides, I will no be able to get pass and when putting a block on these borders, the game crashes.

One solution is turning the old-type world infinite, but that is an unsatisfactory solution.

PLEASE LOOK INTO THIS ISSUE - ONE OF THE MOST SERIOUS SINCE I BOUGHT THE GAME VER.0.4