Step #94 in the One Day Morrowind Modernization list
Featured in Mod Lists:
Total Overhaul (#414), Graphics Overhaul (#284), Expanded Vanilla (#262), One Day Morrowind Modernization (#94)
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.