Interesting. I've been seeing for a while now exactly what you describe but on the Monon route. The ballast on either side of the rail flickers like crazy, as does the level crossing textures. Also, the windows on the locomotives behind me as I look back (in 3D cabin), they're flickering as well, unless the locomotive passes through the shadow of a nearby tree or building.
It does look like Z-fighting as parallel textures are constantly trying to overlap each other.
Began seeing this since, I think, shortly before v1.4 released. Using only the weekly testing versions, and the issue has been persistent.
"My dog got loose once, what I did was show him his leash & he came running back, thinking it was time for a walk - stupid dog."