Forge made some big changes to rendering lately, Optifine most likely needs to update.
I had the same problem, when I tried to update forge beyond 1290. I kept downgrading untill I was back at version 1290, and that one still works with optifine. So untill optifine is updated to work with the newer forge versions I suggest you downgrade forge to build 1290.
I double-checked on Windows XP x64 with Java 1.7.0_76.
Solution for 1.8: use Forge 1290 until Optifine is compatible with newer Forge versions.