I wish I could vote three times.

1. Wavefield
I like watershader. I love this shader. The mood is great, the coloring is well tuned. But, sometimes the reflections on (specular) some waves looking a bit like plastic, or a big Wackelpudding. But I voted for this project.

2. ACDFSM
Ok, shadwos. Technical, a nice shader. But in such a contest you need to showcase your work properly. And the presentations, sorry, sucks. No own models, no real demo, no real interactivity.

3. RayHairLightSoft
Nice presentation. I like the hair shader. It reminds me of the Oblivion hair shader. Technical and optical a nice work. But, I have only one vote and I simply love watershader.

4. Shadershowcase
Nothing special. In comparison to the other contest project it is not very much. Some, not very beautiful, klicked together scenes with standard shader applied. No own artwork, worse, no nice artwork. There are a lot of better free models outside.
Even the island scene is nothing special. Everyone who owns the com edition could click together such scenes.
Sorry for the harsh critic.

5. Tower on Planet
I realy like procedural created stuf. I like the demo a lot, but I remember a previous version of this with another tower "architecture". It had a nice cave/way from top to the end of the tower. I missed it. If I had a third vote, I would vote for this project.

6. ShadeC
Some realy nice shaders. But the presentations is a bit weak. The interior demo looks relative nice and polished, but the exterior demo looks a bit "klicked together" and uninspirerd.
I competitions to some other projects is can't beat the presentation of the shaderwork. But nevertheless, technical this are some very good shader.

7. Sea VTF
Hm I had some problems, too, but solved the Fillmode problem. After the bad first impression, I saw a realy, realy great watershader. It is not perfect and the Depth effect behaves weierd, but the the color the reflections, the presentation at all is great. If I had 1.5 vote I would vote you.