I am using Vue 7 I and  am having some weird water issues. To just try it out I created a very simple scene. I did not bring up the water editor. I used a preset Channel water. I tried this numerous times both using Vue 7 channel water and channel water from the vue 6 library. The water looked weird. I, then, created the scene in Vue 6 I and rendered it quickly. It looked as it always did. When I brought it into Vue 7, it looked almost the same. The water colors were slightly different, but the transparency level was the same. I checked the tranparency properties for the channel water in both 6 and 7 and they were set at 90% in both. But the water didn't look anything like channel water when created it as a new scene in Vue 7.

Also, if you look at the material editor, you will see two materials when I created it in Vue 7. I clicked on the default as always to change materials and it didn't change. When I deleted the default I got a blob image. I believe last night I, also, tried this with other waters that had their counterparts in Vue 6 and got the same result.

I'm using XP-64 with 4 gig of memory.