Here's a little gif of a waterfall effect I've been working on for that black and white Source project I've shown. No custom props or anything, just an animated texture I put together in After Effects slapped onto a displacement.
[Blocked Image: http://mattburdette.com/images/svg_01_water.gif]
Nothing amazing, but it gets the point across. I'd love to do some refraction in there, but I dont think the refraction shader supports transparency does it? I've already got some ideas to throw in there to supplement the whole effect.