Nope, But I can confirm it. it happens mostly when I look at a sun... weapon effects (primaries) also look weirdish.
AMD AthlonXP 2600+
1GB RAM
asus GFX 5700 TD 256mb (driver Forceware 71.81)
Win2k pro SP4
Running Taylors 20050626 build in D3D, 1024x768, 4x AA.
All MediaVP's xept for MV_music, command lines.
Ambient_factor 70 -timeout 120 -spec -glow -jpgtga -nomotiondebris -2d_poof -rlm -d3d_no_vsync -dualscanlines -ship_choice_3d -targetinfo -orbradar -mpnoreturn -fps -mod Transcend
Didn't do any further research on it since i didn't really care about it... (doesn't cause crashes, for me at least)
(realizes he shouldn't post this here but on mantis, but doesn't really dare doing that

)