Questions and postings pertaining to the usage of ImageMagick regardless of the interface. This includes the command-line utilities, as well as the C and C++ APIs. Usage questions are like "How do I use ImageMagick to create drop shadows?".
I would generate a wave of intensities, probably using -fx. then add perspective to that using -distort (very latest IM) and use the result as a displacement map for a 'flipped' image.
That is what I would try for a first attempt, but I have not done so.
At the moment I am too busy improving the distort image warping function
especially for perspectives involving an horizon.
This will probably be read in a few weeks.
If you do try something report it,here. success or failure.
After spending some more time looking around on the internet, I found a php class which produces this effect with the GD module.
The class can be downloaded here: http://gifs.hu/phpclasses/show.php?page=20 (Called FXLake)
I'm planning to go through that class and see how the programmer did it, then try to port it so it works with imagemagick.