Hello everybody!
As the challenge is coming to an end and I’m probably not going to modify this further, here is a quick breakdown of the effect elements. Some of the meshes have more polygons than needed but as I probably won’t be using this in any project soon, I left them as is, not that they are much of a problem anyway.
All the materials use some mix of these two textures by panning and multiplying them. Both of them are pretty basic Substance textures.
Perlin Texture:
Fiber Texture:
River plane:
Not much to it. There is a fade in the amount of waves as it reaches the fall
Waterfall edge:
Moving textures with an UV fade in and fade out.
Waterfall mesh:
Similar to the river plane with different material values
Waterfall silhouette:
Modified version of the waterfall mesh with a front-culled material and world displacement
Splash:
Semicircle mesh with world displacement and cutout transparency.
Foam:
Another semicircle mesh with just enough polygons to allow a smooth UV animation
Pond + Underwater foam:
The base color is a simple UV lerp, and the underwater foam is calculated inside the material.
The foam effect is view dependant.
The material takes the center of the effect as a float3 parameter. First, the distance from the view direction line and the parameter is calculated and this value is then modulated by applying the world position of the point where the line is closer to the parameter as a texture coordinate. I’m not super stoked about the result, but with all the meshes turned on it sells fairly enough.
I took it as a challenge to not use transparencies nor volumetric rendering for this particular effect, and it served me well as a geometry exercise. 
Final effect:
Thanks for all the feedback and the guides and resources all over the forum. See you in next month’s sketch!
Bonus red wine waterfall:
Or is it blood…
