Cool thing about GoldenEye is that it's impossible* to get HOMs. The game clears the background to whatever the sky/fog color is set to, and then uses some low-level tri drawing commands for the clouds and water. Why the vast majority of games didn't use this same method, I don't know, since it seems more efficient than the way skies were done in, say, Quake. It wouldn't make sense for games with more graphical skies, but Quake's skies were just a colored background with two layers of clouds scrolling over it.
As for what happened in that shot, no idea. I repeated the procedure and had no problem at all. Sub thinks it might have been a buffer overflow. It certainly taught me to back up my vertices files, though; if that was more than a test import, it would've been a small disaster.
*Actually, that's not entirely true. Jabo's graphics plugin (probably others) can't render the sky properly, and will show a HOM in the sky with any modified GE ROM that has a new checksum. It'll never happen on hardware, and that's really all that matters.