JohnnyDollar: I've found those texmod textures to be glitchy in ME1, at least the ones I used, and the bigger ones degrade performance too much.
cich: There is this one bug where menus glitch out from time to time, and that requires alt+tabbing to straighten the picture, but I didn't experience any other problems, and finished the whole game with the texture mod. But I agree that your experience may vary with those things. Unreal Engine 3 really sucks when it comes to any kind of modding.
Yeah, that's probably the same glitch that I recall. There was 1 or 2 large texture mods that I tried too that slowed initial game launch way down, and I can't remember how it affected the game performance once it was started.
That was enough for me to take a pass on texmod. For any real modding you would probably have to be familiar with the Unreal Engine editor and be willing to hack and alter the game files. Probably something that you would want to upload anonymously once you're finished, if you wanted to share. :P