Okay, so as self-satisfyingly-smug it makes me feel to bash Ubi's totally useless copy protection and shoddy game making, how do I solve this problem? I can't progress past the first two missions if I'm suffering this crash.
Okay, I've discovered that after using time compression, the game stops rendering all textures that are not the interior of the sub or underwater. No texture on the sub's hull, no texture on the deck crew, no textures on the sea (also the waves disappear, so the sea is just a flat black plane) and no textures on the clouds.
The sky is still there, with stars and all. Also, game still renders objects properly underwater. Seabed, waves seen from below, plants, rocks, ect. are all fine.
[Edited by AdmiralThrawn, 4/22/2010 3:51:22 PM]
I occasionally get the same rendering problem and I have no clue.
Ubi has delayed its next patch indefinitely.