Hype SplashEnabler
This effect looks like water and to edit the colors you must edit the code in the enabler (Code-Layer). Look at the original post to see how to use this. The class for this effect is called hypeSplash.
Example Download:
Hype 4 with Vector Pen Tool (currently requires Beta-Access) :
HypeSplashEnabler 1.0
Versionhistory:
1.0 Initial release as symbol and under MIT-license