Ha, I doubt that
Nevertheless, I've uploaded the version with real waves @TESNexus for some real water waves. Requires a SM3.0 graphics card with support for vertex texture fetch.
Small issue, and I can't quite figure out whats causing it, but during game startup, the screen is flashing from splash screens to black, and back quite rapidly, though I can't be sure if its the .dll, the underwater shader, or the ingame shader thats causing it...or perhaps nvidia's newest drivers....but I doubt that since It was fine prior...regardless, this only seems to effect the initial morrowind loading, and initializing stages, and seems to not have an effect ingame at all, so...oh well.
Btw, the waves are PERFECT!
Edit: I figured it out, the underwater caustics needs to be first in your shader list(at least if you use an Nvidia card with the latest 191.07 drivers, as thats what I have to test with and can't verify if it effects ATI's the same way) Anyways, I also found that the flashing effect occurs during chargen while on the initial prison boat, so you may want to include the warning to have it be first in the shader list in the readme to avoid a potential pm/message nightmare.
Anyways, thanks again for this Phal, the water is stunning, and the waves are phenomenal!