I compared several screenshots with/without the patch in both Tamriel and Deepwood Vale. The floating waterfall issue is resolved. No other visual differences/anomalies were observed, except an intermittent issue with dynamic waterfall LOD described below.
To test the patch, I made several saves and "before" screenshots with Alpha-182 output, then loaded those saves with the patched output to take "after" screenshots. In several cases, distant dynamic waterfall LOD was missing in the "after" screenshots. This could sometimes be corrected by loading an interior save first and stepping outside, but not always.
Here is a pair of screenshots with LOD disabled to illustrate the difference.
https://imgbox.com/9mlVauNV (Alpha-182)
https://imgbox.com/yVeDWM7X (patch)
This issue doesn't happen when the save/load use matching DynDOLOD output, so I'm not sure if this is a bug or expected behavior. Let me know if you'd like more info.