It could be applied to an ocean with undulating waves. Thing is this; There are a number of items that need to be added to the vertexshader to really make it a great looking ocean shader. It would do well as-is, but it would be nice to alpha fade the edges near shore, and to lerp some colors for depth appearance.

My next plan is to get the stupid Fog working in my HLSL code. It eludes me right now.