So, dieser funktioniert bestimmt (ist getestet).

Code:
 
bmap water_cube=<cubemap.tga>;
bmap water_bump=<waterbump5.tga>;


function mtl_water_init()
{

bmap_to_cubemap(bmap_to_mipmap(mtl.skin2));
bmap_to_mipmap(mtl.Skin1);

}


material water_fx {

skin1=water_bump;
skin2=water_cube;

flags=tangent;

event = mtl_water_init;

}



var ShaderCount;


Action WaterShader
{
my.material = water_fx;

my.transparent=on;
my.nofog = on;


while(1)
{
my.skill41=float(ShaderCount);
my.skill42=float(0);
my.skill43=float(0);
my.skill44=float(0);

ShaderCount += 0.0010;

wait(1);}
}


////////////////////////////////////////////////
// Load the effect file if pixelshader version
// is better then 1.1.
// If not, then exit the Engine.

function load_water_fx() {

if (d3d_shaderversion >= 1111)
{
effect_load(water_fx,"watershader.fx");
wait(5);
return;
}
else
{
wait(5);
exit;
}

}



Du musst die Dateinamen ev. noch ändern, und in deiner Main Function die Funktion "load_water_fx()" aufrufen.