Alright, here's my water mod (tweaked slightly to account for RUb's night water reflection changes)
Despite the nice colour variations, it's really a mod with teeth and completely ruthless in terms of its' effect on gameplay. You will, at best, only see silhouettes against splashing waves on the surface, and only at certain angles, looking through the periscope.
Although 90% of people would probably not like it - I've been playing with it for months now, and couldn't be happier

Overcast weather, dawn.

Overcast weather, daytime.

Surface, overcast morning.

Surface, overcast night.

Surface, overcast daytime.

Clear morning. Surface/underwater colors.

Clear day, noon.

Clear day, late afternoon.

Midnight.

Surface, cloudy morning.

Clear night.

Periscope view upward.

Periscope view sideways and up.
Download:
http://rapidshare.de/files/3134657/E...s_Atl.dat.html
(goes in data/env. Backup old files, etc.)