water (transparency?) flickering and pixelated

hey, i've noticed that water in the distance keeps flickering (and looks weird!). changing the transparency setting to disabled fixes it. curiously enough, turning shaders on also fixes the issue. is this caused by some other mod, maybe? i've included my modlist. (also, please ignore the low memory warning - i was just testing how low i could go on memory, but this happens even with 4gb+)