First of, this is a really cool project!

I think the project currently lacks the ability to customize the waves

It seems the current state is that only the height of the waves is changeable.

Options that I think are needed:

Color including the opacity

In a stylized game, the water might be unnaturally colored.
In swamp regions the water should be able to be dirty brown without the ability to see the ground
In tropical regions the water should be able to be a bit more greenish with the ability to be partly transparent

Speed of the wave

If someone wants to create water with stronger wind, the speed of the waves is at least as important as the height

Move/wind direction?

Wouldn't consider this one strictly needed but I think it would be nice