No, guys, you're suggesting some performance-intensive or cheap shortcuts.
Here's the idea to have a water plane rise:
Follow this tutorial using the "technical_black_plane" in static_objects > technical:
Make the texture lead to the water texture of your choice.
You have to make it into a .ent using the ModelEditor. Set it as a MoveObject and play with the variables inside until you are happy with the speed. Have the entity have 0 mass, and the body should NOT collide with character, OR non-character. Play with the size until you are satisfied. If the water texture looks stretched, add more planes to the scene rather than scale it. You will just have to script each moving plane.