Textrure/material turns white on play?

I have bumped into a weird problem in Unity 4 (free).

I had two textures that was replaced. The material lost the old textures when I deleted them and I had to reapply the newly imported ones. Anyways when I start up the gameplay all objects using the material is now WHITE! Everything seems fine in the editor. None of the objects are prefabs, and the material is a Nature/Tree Soft Occlusion Leaves.

Why is this?

Yes, I have tried searching around, but found nothing useful…

I am sorry to bump this (not even sure it works), but is it possible that nobody have enocuntered this before?

Updated material/texture turns white when I press play, and goes back to original when I stop the game?

It is very important to me to solve this as it was just before making the final Build for my first finished full game in Unity that is to be released on web. I have been working on it all this year until now :confused: