I'm not sure about which perspective is better. The second looks a bit better, but don't ask me why
Regarding the animations:
You can animate the water and clouds by using a translate node. (create node -> other node -> translate, if I'm correct).
Then for animating clouds first assess on which axis you would have to move the clouds.
Then create a translate-node and attach the cloud fractal to the shader-input of the translate node.
The output of the translate node goes into the input of the cloud-node.
Now in the translate-node you set a keyframe at frame 1. You can set keyframes by pressing the "function-thingy"-like symbol which is in front of virtually any parameter in TG2. (why it has this symbol and not something more trivial and easier to describe, don't ask me)
Then go to the final frame of your anim and enter the number of metres in the axis you want to have the clouds moved in. Then create another keyframe.
Now your clouds will move over that amount of metres along the axis in which you entered that value.
Same goes for animating the water. Feed the watershader into a translate-node. You can translate the water-function on the x- and z-axis, but for smooth moving ripples you must always translate in the Y-axis. You can then use the x- and z-axis for side-ward movement to mimic movement in a certain direction, but be careful because it can give odd results.
Jon West (Hetzen) made useful files available here:
http://forums.planetside.co.uk/index.php?topic=7896.0Good luck and please let us know how you're going.
Cheers,
Martin