@waswar1
You could easily edit the shader yourself in a text editor since the shader file is set up to make it simple to disable the hardest hit to FPS in the effect file; sewer waves. However, I had a few moments to spare so I just did it for you.
Here is Abot's water shader with sewer waves disabled. http://www.mediafire.com/?aslxs1x49oshgcd
Wow, you are awesome, thank you so much!
Shame I have almost no experience in editing these files intext or anything..
Tested in-game, and wow, fps is just like it was with the normal xe water shader!
Edit: Ugh! I feel so stupid! I was too busy looking for screenshots I didn't even notice the description of how to get rid of the sewer waves (Or foam for other people) on the bottom!