Same exact issue, I upgraded to the Crimson drivers in the hopes that it will resolve a persistent problem with BSOD's originating from atikmpag.sys but now I logged in to SWTOR to find all special effects just gone. Lowered AA to Medium and it seems to resolve most of the issues (tried High as well but it made no difference) so it can serve as a temporary workaround. It does seem like Bioware has got something against ATI card users though *dons tinfoil hat*