HumpYard Mike, I only have experience using "EnviroTex Lite Water Resin" (available from Scenic Express, Catalog #16, p.144) and can offer you this advice and these examples using that product:
Regarding color and depth, first, I prepare the "stream bed" by painting it w/ a variety of earth tones, such as Raw Umber, Burnt Umber, & Payne's Grey (used very sparingly,) all available in tubes from Daler Rowney "Acrylic System" paints. I let that dry fully. The deeper I want the water, the darker and unwashed I paint on the colors, usually making the center of the stream and the inside of any stream meander the darkest areas.
When I am ready to create the water, in a disposable plastic cup, I gently add a few drops of blue, green, &/or amber transparent dyes into the "hot" mixture, according to how I imagine water in such a place to appear, and then I sparingly streak selected opaque colors (both dyes available w/ the EnviroTex product) according to how clear or loaded (cloudy) I want the water to appear. Then, I pour the mixture into place, urging it only slightly w/a plastic straw into crevices; the mixture travels on its own pretty well. I may streak in a little more of the opaque colors at this point, if at all.
Lastly, regarding the bubbles, which are a result of the chemical reaction taking place once the 2-part mixture is combined, after you have stirred vigorously (protect your eyes from any splash) and poured the mixture onto your base and it has spread everywhere you want it to be, position your mouth approx. 5 - 6" from the surface, pucker your lips, and gently blow onto the "water." The bubbles will go away, little by little.