Heres my lattest incarnation. Thanks to Aldo's Jotum and Darks gorgon bomber/fighter mods....

I was experimenting with the game glows as well as PSP/PS glows, and thowing in a flood or too, some-what mimicing a over ocean battle at night, with a diemos corvette drowning in what looks like murcury or water. whatever the effects end result was lol, i dont have much 2d knowledge on how to make "splash" like effects. i used fire, smoke, waterblobs, and then more fire over it to give it a splash effect.
the i tried to give some depth perseption by using the smooth function to blur the front and far back images, focusing on the XT-01 and the deimos and water with Gorons incoming.