Alright, I just tested this out. From what I can tell, it seems to be defaulting to htl, and the -fredhtl flag causes it to load in NON-HTL. I can tell partially because without the flag, its displaying all of the same problems I noticed previously when running FRED_OGL under HTL. Paths & dockpoints are all rendered WAY away from the ship, or change their position drastically as the camera moves. It also refuses to load any mission not created in HTL. These are bugs from the previous version under HTL.
Next, in non-HTL mode (ie, with -fredhtl flag) it is displaying all of the ships in LOD1 or 2, never in LOD0 no matter how close you get.
I think I'll revert to the previous version for now.
Later!