THIS is art!

Yes, this is awesome! What I really like are the water reflections (no kidding) and that you can see the geometry beneath the water surface. I am wondering: are you using a stationary mesh for the water or is it a displaced mesh to make the ocean infinite?

It would be quiet interesting to see how it would look like, if you add waves (mesh deformation!), shadow mapping, faked caustics and shores.

Thanks guys. It´s really just a rather simple effect. The Wavefield water was way more complex (geometric waves, infinite water + LOD, shores, 'under-water-support'). The under water terrain shader is actually using the same fake caustics like implemented in Wavefield but it´s probably barely visible through the water refractions if you don't know. Also it's true that the diffractions aren't perfect at all, but I didn't spend any extra time in improving those when I re-implemented the water (it's not a new shader).

Just recognised that I forgot to mention (in the video description) that the shader uses cubic env-reflections for the skycube reflection which looks way better than the simple bumpmap-distorted reflections from the reflect-view-rendertarget. Thx.^^

Is it possible for you to compile an executable or something?

yeah, that water is really cool,
and that terrain thing is also very interesting, it's like a vulcanic asteroid or something...

Mini-Reef Demo: http://www.wikiupload.com/Y550GS7UUWN4K26

No source code included, it's simply too hacky.^^
But you can ask if you wanna learn more about general concepts or details of certain parts of the implementation.