Darkremixx, what did you use for your ocean surface, it's really nice.
for foam hmm that's the million dollar question
Well if you could find a way to do what one of the finalShaders of finalRender do you could try this.
First the shader is able to have different level of mapping depending on the height of the object, and you can even blur between the two or more.
What I would do is use it to tell a Pflow to emmit from the mapping that is the highest and then use Pwrapper of GLU3D to give it a liquid feel and with your map give it a foam look, I suggest glu cause I have no idea how to use Blob object with Pflow. You can always have a bit of foam in your water with mapping but wouldn't be as nice. In my experience with GLU you have nothing to fear from the Pwrapper
But I haven't tried it yet so this might not all work.