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Ok, something obviously more sinister going on. This doesn't seem to be a unity thing, I'm now even seeing it happen from the oculus configuration...
Ok, found the problem - I didn't remove the oculus display driver (apparently no longer used on the 0.7 oculus runtime) I removed that, rebooted...
I'm using a GeForce 980 TI with driver version 10.18.13.5582, Windows 10, Unity 5.1.3f1 personal edition, latest Oculus runtime that now is...