On my computer at least... now everywhere I go in light, I get weird shadows covering singular triangles of landscape, or large areas, and sometimes random shapes, and these flicker and change as I move the camera and character. Also, I wanted to check out the new underwater transitions, so I tried, and found that I can now see nothing but a flat mud colour underwater...

Uh... sorry, wrong forum, I meant for this to go to bugs.

Give it some time. I had that when I first used the beta version but it cleared up.

For water..

Change this to 0 and see what happens.

bDoDepthOfField=1

in the ini.

Yeah, changing the .ini was a big help with the water. I couldnt even see where water started/ended in some places, and it was completely transparent. Theres a few screenshots in my link demonstrating this before I changed it. Changing it cleared it right up, and I can also see very well underwater.

Huh, went to make the change and it's not included in Skyrim.ini - but found it in SkyrimPrefs.ini instead

I believe this can also be solved by deleting the INI and Prefs files and letting the game generate new ones.