After one and a half day fighting with CTD (possibly related with RLE compression in one big .tga file?), I think I have another problem - or maybe not?
The water have some weird pattern - I don't remember now if its normal or not. You can see it on this screenshot:
So, is it normal, or there is something wrong? It doesn't look too good in game. I am using latest OLC environment. No anisotropic filtering, 2x antyaliasing, vsync on (those are the highest possible settings for my pc).