Reproduction steps:

1. Open "MinimalRepro.zip" project (It crashes the first time)
2. Drag "Water" from "Shaders" folder, to "New Material" in "Materials" folder
3. Click on "New Material"

Expected Result: It shows it's properties in the Inspector window
Actual Result: The Editor crashes

Reproduced with: 2017.3.0a3, 2017.2.0b6, 2017.2.0a1
Regression introduced in: 2017.2.0a1
Did not reproduce on: 2017.1.0p3, 5.6.3f1

Fixed in: 2017.2.0b7

Note:
Changing "m_DefaultBehaviorMode" from 1 to 0 in the "EditorSettings.asset" asset to stop the crash from happening.
Only crashes if Graphics API is DirectX11