Moving bones with damped track freezes Blender in Textured view (FOUND THE CULPRIT!)

Hello,
I have the following problem:
If I add a “damped track” constraint to one of my bones (to create a target for the head to look at), switch to textured view and move the bones in pose mode a bit, blender freezes.
Until I add that constraint, everything works fine.

I can’t replicate the bug with the same skeleton but a different (simple) mesh.

I can’t attach the blend due to an NDA, so I just wanted to ask - is this a known problem? Is there something I’m doing wrong, possibly?

Well, this is EXTREMELY weird.
I’ve managed to isolate the problem to a single texture on a single model. If you so much as remove the texture, everything else works fine.