Good day. I recently installed Oblivion for whatever reason, only with OOO and some UI mod. I noticed my water's bugged out. I can't see through it. It's like the water is replaced by shiny liquid metal. I can only see through it when some random "holes" appear on its surface. I didn't take a screenshot, but I spotted a deer swimming across a river. The water ripples got replaced with a hole that followed it. Googling mostly forwarded me to threads about people complaining the blocky distant reflectiongs. Can anyone help?

Cheers.

http://i.imgur.com/OTES23h.jpg

EDIT: Oh, right. Graphics card is Nvidia Gayhorse 8800 GTS. IIRC the water used to look like it should the last time I played Oblivilol years and years ago.