I have the same "black textures" near the waterfall. So I ran the psclient from the terminal with the relight switch. I typed it exactly as follows:
./psclient -relightI don't think the operation worked because it only took a few minutes and those of you who have performed it report it taking over an hour.
This method only takes a few minutes. If you use Relight in setup, it takes a very long time, depending on your system and system settings.
Video: ATI X300 128MB ( driver/fglrx ver 8.28.8 ) I suggest a driver rollback, try the 8.26.3 instead.
I had some other issues with the latest driver, but when i use the previous version, everything worked great

Trying wont hurt anything.
Edit: actualy the 8.17.2 was the most stable for me
