Could be coincidence but seeing how there's been a plethora of issues with the past csgo update (and that a few days ago, I've had no problems with $selfillum), seems something isn't working out for that parameter.
Even if I manually go into the vmt's and write in "$selfillum 1", it won't work. Any ideas why this might be happening?
For VertexLitGeneric $selfillum cannot be used with $translucent (at least traditionally, I believe). Also make sure the $basetexture has an alpha channel. Other than that, nothing comes to my mind.
Ah thanks. Embarassing mistake on photoshop. For some reason photoshop didnt have it set to 8 bit/channel and 32 bits/pixel like I'm used to.