Small update of the water. Specular spot have a size according to size of a light source:
And surface now have a small animated normal noise:
Water surface opacity is calculated using Fresnel equation, underwater volume have an exponential fog:
Reflections, refractions, caustics, and 3D waves are will be implemented in the future.
PS: Added the video. Some artifacts under water is due to interaction with atmosphere. FPS during video capture was dropped to 3-5, so my camera piloting is not smooth:)