Free Sqirlz Water Reflections Download

http://www.brothersoft.com/sqirlz-water-reflections-download-36628.html
Screenshot ...
http://www.brothersoft.com/photograph_graphics/misc_graphics/screenshots/sqirlz-water-reflections_36628.html

This one downloads onto your computer. You can edit your picture as to how you want your waves to show, how much, whether it snows or rains, etc.
The only thing I found is that once you get it set up the way you like it, and choose to save it (I only tried to save a gif so far) the program 'builds' and depending upon the speed of your computer, it will take a few minutes or a while. So if you like the idea of controlling the waves etc., you can set it up and while it's building, just go do something else (vacuum? lol) and let it do it's thing.
Thank you to wwstables for finding this also.

LunaPic Online Photo Editor

http://www73.lunapic.com/editor/
Not a bad online editing site with a lot of options to play with your pictures.
Thank you to wwstables for finding it.

Image reflection generator - create reflections with Reflection Maker

http://www.reflectionmaker.com/
This is a pretty neat program to do something different with your pictures.
It isn't a download onto your computer. You can do everything right from the site itself. Provide a URL of a picture or browse for one already on your computer, pick a background color, the size of the reflection (100 is good), generate and voila ! you can see what your picture is like. Can tweak size and background color while it's still sitting there. Then either click the download link underneath or right-click and save it that way.
Pretty cool app if you don't want to drag out the photo editing software you have and do it the hard way lol
Enjoy