Underwater Camera

[Gurnsey]

Is it just me or is anyone else having trouble seeing underwater since new patch was installed?
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I don't know how to fix it, but I know what changed - on my machine (Geforce 4 something), underwater is now wavy and blurs in the distance. You can also see out of the water from below now, complete with wavy-distortions from the surface of the water. It looks quite cool! The blur has also been added to the Drunk effect; when you are smashed, you can't see much of anything. On my wife's machine (Mac Mini, whatever integrated graphics it has) the blur and wave are not there, but she doesn't get the full-screen blues either. However, since the latest patch, she has had trouble with textures dissapearing and flashing (things will go grey/white when they lose texture).

I have a feeling that these are related, and I'm not sure if there is any way to turn stuff on and off in the options to get it to go away. The best way to go about it may be to turn everything down all the way, and then bring one thing up to where it was at a time so as to narrow down what option causes the 'blues'.