I loaded up a save today continuing to play as normal when I noticed that apparently neither projectiles nor explosions are rendered anymore. Beams (like from spire frigates) are still visible, but most projectiles just don't show up. I tried restarting the game, even turned on preloading all images and increasing disk load threads, but none of them helped.
I did check the graphics options to make sure that hiding shots/explosions wasn't checked, and they still weren't, so I'm not sure what might be causing this.
EDIT: started a new game to make sure it's not just on that save, and it's not, none of my games show any sort of projectiles anymore