Hi guys.
I found a very cool water shader made in blender. Possibly you will be interested.
http://www.blendernation.com/2012/07/07/game-engine-water-shader/#utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Blendernation+%28BlenderNation%29
Blende file is here: https://dl.dropbox.com/u/11542084/water_0.95_packed.blend
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