I've seen a couple posts about the changes to ripple water, and the response seems to be that these changes are fine and if I'm seeing a color that is too bright, it's probably my graphics card. I have an NVIDIA GeForce 6800 GT. With ripple water turned on, I get the overly bright blue at day and the pitch black at night.
I don't know if this is the right forum or not, but I did want the Lindens to know that I think the past couple changes made to the Ripple Water is not fine. The original ripple water had its bugs, true, but to change the aesthetic appeal of them in the name of performance was a bad call, I think. You fixed the bugs, you improved performance marginally, and now no one wants to have ripple water on so all these fixes and improvements were pointless.
Please, return ripple water to its original state or, for god's sake, keep working on the textures you have until the colors aren't at polar ends of the brightness scale and the waves don't move like glop.