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Can you try the new "CPU Only" version ? It simply moves the terrain generation (which looks like being the problem here) from the gpu to the cpu.

Hmm, well, terrain appears, but it changes every frame, and it runs at about 1FPS.

That's very weird since it shares the same code base as the Windows build which definitely works.
I've uploaded a new OSX build with slight modifications but if this doesn't work I sadly can't really do much more.

That seems to have fixed it! Thanks so much.