I was barely involved with production of Osiris Big Wave Surfing
I Just did the demo (With one other coder), and somw tool work
This was around sept 1999
Its basically an animated/extruded realtime tesselated catmull rom spline curve, with the extrusion dimension under the influence of a time offset.
Shading occurs in 3 passes. (before i learned register combiners)
Pass1 – lay down alpha and ‘chop’ texture
Pass2 – foam layer (additive)
Pass3 – specular (masked through alpha)