Static meshes disapearing unless selected and odd blurring after update

Hello everyone,

I’ve been working on a project with no problems what so ever for a couple of months. After updating the launcher today however my scene looks like this.

All 2D icons for lights, players and so on does not follow camera. Only meshes that are visible are skeletal. If i select a (invisible) static mesh it becomes somewhat visible while selected.

There’s also some odd light smearing going on and some mesh normals are inverted.

It looks the same when launched and editor is set to show everything.

Of peripherals I have an Oculus Rift connected.

What’s happening? Help save my project!

Nuking (deleting) the config files seems to have worked. In the end the project wouldn’t even load, stalling at 45%.

Usually it compiles shaders at 45%. Wait for it to complete.