Can't get water to render in Ogre 1.8.0 RC1

Hi!

I'm trying to use Hydrax with Ogre 1.8.0 RC1. There haven't been any problems compiling it against the current Ogre sources, but for some reason, I don't see the water surface in my game.

I do notice a drastic drop in FPS if I move the camera below ground level (the underwater compositor component is disabled because I don't need it and it blew up when my game was shutting down). Other than that, I see absolutely nothing being rendered.

My Hydrax initialization code should be identical to what the demo it ships with does:
void WorldPresenter::CreateSceneNodes() {
this->hydrax.reset(
new Hydrax::Hydrax(
GetOgreContext()->SceneManager,
GetOgreContext()->Camera,
GetOgreContext()->Viewport
)
);
this->grid = new Hydrax::Module::ProjectedGrid(
this->hydrax.get(),
new Hydrax::Noise::Perlin(), // noise module
Ogre::Plane(Ogre::Vector3(0,1,0), Ogre::Vector3(0,0,0)), // base plane
Hydrax::MaterialManager::NM_VERTEX, // normal mode
Hydrax::Module::ProjectedGrid::Options() // projection options
);
this->hydrax->setModule(this->grid);

this->hydrax->loadCfg("HydraxDemo.hdx");

synchronizeState();
}
void WorldPresenter::AttachSceneNodes() {
this->hydrax->create();
this->hydrax->setVisible(true);

synchronizeState();
}

The log file says this:
10:41:41: [Hydrax] Hydrax created.
10:41:41: [Hydrax] HydraxDemo.hdx loaded.
10:41:41: [Hydrax] Creating module...
10:41:41: [Hydrax] Creating ProjectedGridVertex module.
10:41:41: [Hydrax] ProjectedGridVertex created.
10:41:41: [Hydrax] Module created.
10:41:41: [Hydrax] Initializating RTT Manager...
10:41:41: [Hydrax] RTT manager initialized.
10:41:41: [Hydrax] Registring device restored listener...
10:41:41: [Hydrax] Device restored listener registred.
10:41:41: [Hydrax] Creating materials...
10:41:41: [Hydrax] Creating water material...
10:41:41: Texture: Fresnel.bmp: Loading 1 faces(PF_L8,256x1x1) Internal format is PF_L8,256x1x1.
10:41:41: Texture: Foam.png: Loading 1 faces(PF_R8G8B8,512x512x1) Internal format is PF_X8R8G8B8,512x512x1.
10:41:41: [Hydrax] Water material created.
10:41:41: [Hydrax] Creating depth material...
10:41:41: Texture: Caustics_0.bmp: Loading 1 faces(PF_R8G8B8,128x128x1) Internal format is PF_X8R8G8B8,128x128x1.
... caustic bitmaps 1 through 30...
10:41:41: Texture: Caustics_31.bmp: Loading 1 faces(PF_R8G8B8,128x128x1) Internal format is PF_X8R8G8B8,128x128x1.
10:41:41: [Hydrax] Depth material created.
10:41:41: [Hydrax] Materials created.
10:41:41: [Hydrax] Creating water mesh...
10:41:41: [Hydrax] Water mesh created.
... game runs with me searching for the water surface...
10:42:04: [Hydrax] ProjectedGridVertex destroyed.
10:42:04: [Hydrax] Perlin destroyed.
10:42:04: [Hydrax] Hydrax object removed.

Can anyone spot something that might be amiss in my initialization code?
I'd be grateful for debugging tips as well! I already tried setting the polygon mode to wireframe, but still nothing to see.

Do you have any other compositors in your scene? Have you tried disabling them? What does your .hdx file look like?
Also, do you call hydrax->update() somewhere in your frame listener?
(oh, saw now I was almost a year late, well nvm)