Introduction - If you have any usage issues, please Google them yourself
Still using texture coordinates, this time here is a very simple way to render fancy water. Waves are shaped using both a sinus function and some Perlin noise. The same texture is used for both fake reflection and transparency, using texture spherical coordinates. Tweaking the texture may lead to quite a good result I think.
Use left click to rotate, and right click to translate. You can also switch to wire-frame rendering using L, and get back using P or F. N toggles normals rendering.