Bethesda on Skyrim's Xbox 360 Texture Bug, Fix Forthcoming

Community manager at Bethesda Matthew Grandstaff has posted on the developer's official forums to give an update from the developers on an issues with textures not streaming right in the Xbox 360 version of the game. The issue seems to occur only for players that have the game installed on the hard drive, and Matt notes that they're working on a fix that should be rolled in the next patch:
Skyrim uses a lot of dynamic streaming systems, including textures. We've seen a few reports of certain textures temporarily scaling down on the Xbox 360, and not scaling back up. We have verified that this issue does not occur when playing off the disk and when the game is fully cached (not installed). Skyrim makes heavy use of the Xbox 360 caching system, and caches over the normal course of play while in menus or interiors. This cache can be wiped when other games are played or when the user manually removes it. We're working on a solution in the next title update for those who have installed the game.