So, on the Phantom forums I've learned this: The effect is called Moire. The concentrical waves pattern and the camera sensor pattern don't get along. It can also be observed over fields, esp. when those show line patterns. Interesting. ~Phydoux
One set is circular and looks like it is coming from a point source in the water, upper center. One set is pretty linear and is causing the interference patterns you see. It is probably not the propellers - not the right frequency. Maybe the wind (slight breeze).
Video may not have seen them - looking at the wrong angle, or the wind gust just popped up.
I'm trying to figure out what's causing the ripples because at lower altitudes you don't see those ripples in the video. Just normal waves. I'm guessing the camera processor or sensor isn't the best. Either that or maybe it's vibration of the propellers. ~Phydoux
