Please find the repro project in comment

Steps:
1. Open the repro scene
2. Open shader "MegaSplat_Example_Mesh" and go to line 2039. Make sure the line 2039 is not commented.
line 2038 o.Albedo = splats.Albedo;
line 2039 o.Albedo += i.viewDir0.001f;
3. Save the shader and move the "Parallax Scale" slider on material and observe (01.gif in comment)
4.Repeat step 2 but this time make sure the line 2039 is commented.
line 2038 o.Albedo = splats.Albedo;
line 2039 //o.Albedo += i.viewDir0.001f; // Comment this line
5. Save the shader and move the "Parallax Scale" slider on material and observe (03.gif in comment)

Expected result:
Line 2039 should not be needed, and should give the correct parallax effect (result in 03.gif).

Reproduced in: 2017.1.0b8, 5.6.1p3, Win10 DX11

Please read comment for notes.