I'm flying the game with squares around planes too. It doesn't seem to effect drones, just main planes. When in closer, I notice the square essentially sits where the pilot is. So somehow related to pilot rendering? Played with all of the settings. Textures, lower resolutions etc. The squares pretty much stay there 90% of the time no matter what. So I've readjusted the settings/resolution to happy medium. Running at 60fps most of the time now.
It is an Intel HD chip, which I know is horrible, and I didn't expect much out of this laptop for gaming, but it honestly runs the game pretty well otherwise.

I doubt there's much I can do about it. The price for playing on a laptop with an intel hd. Just thought I'd post here too.
Operating System: Windows 7 Home Premium 64-bit (6.1, Build 7600) (7600.win7_gdr.100618-1621)
Language: English (Regional Setting: English)
System Manufacturer: Acer
System Model: Aspire 5742
BIOS: InsydeH2O Version V1.03
Processor: Intel(R) Core(TM) i3 CPU M 370 @ 2.40GHz (4 CPUs), ~2.4GHz
Memory: 4096MB RAM
Available OS Memory: 3766MB RAM
DirectX Version: DirectX 11
Display Devices
---------------
Card name: Intel(R) HD Graphics
Manufacturer: Intel Corporation
Chip type: Intel(R) HD Graphics (Core i3)
DAC type: Internal
Device Key: Enum\PCI\VEN_8086&DEV_0046&SUBSYS_04871025&REV_02
Display Memory: 1755 MB
Dedicated Memory: 128 MB
Shared Memory: 1627 MB
Current Mode: 1366 x 768 (32 bit) (60Hz)
Monitor Name: Generic PnP Monitor
Monitor Model: unknown
Monitor Id: LGD0250
Native Mode: 1366 x 768(p) (59.973Hz)
Output Type: Internal
Driver Name: igdumd64.dll,igd10umd64.dll,igdumdx32,igd10umd32
Driver File Version: 8.15.0010.2202 (English)
Driver Version: 8.15.10.2202
DDI Version: 10
Driver Model: WDDM 1.1
Driver Attributes: Final Retail
Driver Date/Size: 8/25/2010 18:36:02, 6547968 bytes
WHQL Logo'd: Yes
WHQL Date Stamp:
Device Identifier: {D7B78E66-4306-11CF-0F7B-8D24A2C2C535}
Vendor ID: 0x8086
Device ID: 0x0046
SubSys ID: 0x04871025
Revision ID: 0x0002
Driver Strong Name: oem16.inf:Intel.Mfg.NTamd64:iILKM0:8.15.10.2202:pci\ven_8086&dev_0046
Rank Of Driver: 00E62001
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D3D9 Overlay: Supported
DXVA-HD: Supported
DDraw Status: Enabled
D3D Status: Enabled
AGP Status: Enabled