Johannes: The next update will not make any changes that would invalidate the current workflow, although we do have improved ability to preview shaders in separate views and transparency is coming soon.
dhavalmistry: The changes to the Lake object that I mentioned would be in addition to the current capabilities. The ability to do things at a "low level" by capitalising on the way the renderer works, as we do now, will always be there, even if there are simpler ways of doing things in future. The only thing that might affect that is that in the long term future of Terragen we plan to release a separate version that does not have so much access to the "Deep" feature set, but that will only happen when we have developed simpler ways to achieve most everyday tasks.
Matt