Got same wave thingie going on ocasianly, what seems to happen is that the game puts your water quality into "custom", just try switching back to your original setting, (works for me.) Thanks for the tip; I changed the water setting back to high and it was fixed. Now, since the pre-patched save games won't work, I have to work my way back to some of those interior lighting sections where the game used to chug a bit, to see if those are fixed for me as well ...
There's no place like 127.0.0.1