Is there anyone out there who can tell me what causes this stupid behaviour which happens with nif alpha blocks?

http://i1369.photobucket.com/albums/ag209/Mindboggles/StupidAlpha_zps138755fa.jpg

http://i1369.photobucket.com/albums/ag209/Mindboggles/StupidAlpha2_zpsd68bf55a.jpg

The mesh is there and correct, the textures are there, so what the hell could cause this to happen?