I've tried Falllout Wanderers Edition and it's a truly great mod BUT all the custom new weapon/armor texures are glitching badly.

I have a good pc and can run Fallout on max settings and I tried various settings (HDR on off and such) but the textures are still glitching. They are either black or grey or very light depending on lightning. I haven't installed any other mods that would mess with these weapons as well.

Anyone experienced something similar?

did you toggle invalidation in FOMM?

Nope. My FWE works flawlessly.