working fine on windows for me, currently using it with above water hlsl sharpening, underwater hlsl fog hlsl Gaussian blur and screen distortion as well as the waterline.
Edit: forgot to mention im using material instances for all of them.
Edit2: i just played around with it in another project, and had offset problems so i checked the near clip plane and for reasons unknown to me it was set to 3 and not 10, though i have never had reason to change it.