Step #83 in the One Day Morrowind Modernization list
Featured in Mod Lists:
Total Overhaul (#357), Graphics Overhaul (#253), Expanded Vanilla (#226), One Day Morrowind Modernization (#83)
OpenMW has a configurable water shader, with several parameters that can be adjusted.
Please see the performance guide on configuring water for detailed information about what you should do with this.