Warp as a Layer Effect

I've got water in my game on its own layer, and am using the Warp effect on that layer to give an illusion of movement and turbulence. Looks great when you stand still, but as the camera moves, so too does the Warp effect. It seems linked to the camera, and that gives the illusion of faster turbulence in the water when the camera moves.

The water speeds up when you move, and slows back down when you remain stationary.

Is there a way to make the layer effects independent from the camera? Or perhaps a better way of warping things in a specific area?

When you apply an effect to a layer, that effect will always work in screen space, not object space. That's why you have the impression of it being linked to a "camera".

You could try to compensate the camera speed by adding/subtracting it to/from warp's speed by an appropriate factor, but that's right from my head without having actually tested it.

Would I be able to apply a Warp effect to a box then?

Say, place a box over the water, and have a Warp effect affect everything inside the box, on that layer only. I don't want it to warp the player as well when he's in the water though.