I found a solution:
In ./eclipse/config/splash.properties change enabled=true to enabled=false.
@diesieben07
There is an entry "Common Problems and Solutions" in the EAQ which explains what to do if your fonts are distorted.
I tried this out of sheer desperation. Maybe the entry should be extended to distorted textures?
Same problem here.
I have OS X 10.10.5 and Forge v11.14.3.1502 and I've got the exact same error message.
Most of the item textures are distorted (white with some colored sprinkles).
Any help would be appreciated.
Thanks
Sontras