Sorry to bump this, but I'm having the same problem right now and can't find a fix anywhere. Drivers are up to date. Oddly it only happens when I run the d3d9.dll from an ENB (I'm just using ENBoost). I tried using RCRN's d3d9.dll on its own and had no problems with the water. It happens all of the time whenever I'm near any type of water especially when looking straight up/down, so I guess the screen positioning has a major issue with something. EDIT: My fault, I completely forgot the setting for Vsync in enblocal.ini. I figured my Catalyst profile and RadeonPro would take care of Vsync, but obviously (duh for me) the ENB setting was overriding it. So changing it to true fixed my issue :)