I found this vid: http://www.youtube.com/watch?v=eVi6ThY3LRs
I wonder if that\'s some kind of standard effect of openGLES. I\'m pretty sure it is, since I have seen this pre
(off the top of my head) Maybe a mesh distortion where the texture is pinned to the vertices and hence appears to ripple as the mesh vertices are moved? By moving a set of vertex displacements around the mesh you could make a uniform ripple like a wavefront...