Same issue here.. latest Dev build. --- I52500k,8gb - GTX 760 4gb,
Changing clouds, shadows causes black screen then "arma 3 stopped working", Changing Textures seemed to work fine for me though.

Only other change since i last playered wsa to install the NVIDIA Beta drivers for BF4 - Nvidia 330.41 drivers.

Havent tried reverting as I want to play bf4.. so hoping its a dev build issue, not a driver issue.

Confirming 111052 build still does it.. Main menu, click clouds, change it (instant black screen) then crash.

They have already acknowledged they are not happy with the rain and its WIP. But has been put back in prior to launch.

One thing i noted on foot it doesnt look too bad when its a torrential downpour, but when you switch on your NVG it almost looks like its not raining.. it should be substantial downpour in the NVG aswell.

Interestingly we played the mission in MP server the other night and although it doesnt appear to show in the mission when run from the editor, it seemed to work in the mplayer game... Which is extrememly unusual.

I also have a similar issue -

i5-2500
Nvidia 560ti

video of effect
http://www.youtube.com/watch?v=c_zTi3to8I0

I have also encountered this, but has only begun since the last build was relased.. Prior to that it wasnt happening at all.. Now the game quits, but a windows requestor pops up indicating the game has stop responding.

This is using the standard exit game from main menu option.

I have utilised the BIEDI 3d editor, and its ok.. my question is.. the 3d editor can switch between 2d and 3d.. why not add tot eh current (GOOD) 2d editor the same ability.. it loads the ingame camera to the map.. but allow alterations to height and placement of the object.. That alone would be enough.. to be able to precisely place objects..

not sure how its all coded but the functionality is alreayd in the game in the 3d editor.. just put the 3d button in 2d editor.. and allow the same movement/orientation of objects.

My understanding is that this alone would suit 95% of requirements.