Edit MattK: This probably has nothing to do with FBX. The object has a mass of 28 million kg so it would appear that the calculation of mass/physics asset is busted which is causing the flickering.
A large static or skeletal mesh (ie a large ship 250 meters long 45 meters wide 25 meters tall) Flickers when placed in the editor. This occurs while playing in the editor as well as just in editor mode.
Tested in 4.6, 4.7preview, and Main with attached FBX
Open blank project with UE4.7 version of the engine
Import large fbx file (*or use attached)
*Attached file is 250 meters long, 40 meters wide, 20 meters high created in Maya
Drag large skeletal or static mesh into editor
Note the actor "flickers" in and out and sometimes becomes invisible
This continues when you play in editor
Head over to the existing Questions & Answers thread and let us know what's up.