Latest updates last week include new water shader, a new camera system, and the physics improved a little.

It's a mesh with an equation on it.  You thought it was going to something more profound heh?

How's this:  when the wind blows in far off lands, swells are created.  As the swells travel the periods of the waves combine to form larger swells.  As they reach the shore the base of the wave slows causing the balanced wave above to break.