it's a known issue with the new release. If you go into your preferences/graphics and uncheck Basic Shaders then rebake ctrl+alt+R you should get your avatar back to normal, when it rezzes correctly remember to recheck Basic Shaders before closing your preferences again.
I have the exact same problem. Have had this problem since the introduction of V2 viewer. Thought it was my pc and have gone through all hardware/software checks and upgrades/updates to no avail. As much as it doesn't help the problem, it actually makes me feel happy to see others are having it because I seriously thought it was a problem on my end.