Yeah, with the latest patch the graphics had a little update, so it\'s possible there are a coulpe of new bugs. I am having troubles with the graphics myself since about 2 updates ago, when I enable Vertex Buffer Object in the Setup tool, planeshift keeps crashing. You might want to change the setttings in the setup tool yourself. I disabled the Vertex stuff and check with what setting planeshift worked the best, and now it runs brilliant, you should do that too.
Good luck.