I decided to try my own ideas on this, using the water shader with high density for 'volume 1' (with a powerfractal plugged in of course
). This is just the 'Planet 1' object, resized to a diameter of 100 and with a powerfractal and compute terrain for displacement and a water shader as only surface shader.
For a first try it's pretty good IMO, but I'll try to tweak it a bit and see what happens.
(I increased exposure of the bmp output in post, but result is result right?)