I rather like your new wall effect. For the water its usually enough to indicate direction of flow and not really indicate weather its bubbling up, running through cracks, or coming out of an actual channel (though coming up with some effects to indicate that might be nice). I few rocks in the water with some flow lines around them do a good job of this, but there are a number of ways. The tendency of the technique you are using on the waters edge to make white streamer like projections doesn't do much for me, its not bad per say but I think you could come up with something better. I do like your channel effect.