Compiling shaders to OpenGL ES 2.0, Xbox 360, PS3, Flash or DX11 requires both vertex and fragment programs

This shader comes from the sewer example level if I remember correct (Unity 2 or 3) With the 4.5 update it generates the following warning:

Compiling shaders to OpenGL ES 2.0, Xbox 360, PS3, Flash or DX11 requires both vertex and fragment programs

The line error is the one with CGPROGRAM I don't know enough of shaders to fix this :/ I see it has a #pragma fragment so I guess it needs a #pragma vertex, trying to add it myself resulted in a brown texture instead of water :) Or can the warning be ignored?

Also unrelated to this error, I commented out some stuff that does not seem to have a visual effect, in the assumption this will increase performance?

 Shader "River" 
 {
     Properties 
     {
         _Color             ("Color", color) = (1,1,1,0)
         _BumpAmt          ("Distortion", range (0,128)) = 10
         _DistortSpeed    ("Disort speed", range (0.01,0.50)) = 0.04
         _MainTex         ("Base (RGB)", 2D) = "white" {}
         _BumpMap         ("Bumpmap (RGB)", 2D) = "bump" {}
     }
     
     SubShader 
     {
         Tags 
         {
             "Queue"             = "Transparent-10" 
             "IgnoreProjector"    = "True"
             "RenderType"        = "Transparent"
         }
         
         GrabPass 
         {                            
             Name "BASE"
             Tags 
             { 
                 "LightMode" = "Always" 
             }
         }
         
         Pass 
         {
             Name "BASE"
             Tags 
             { 
                 "LightMode" = "Always"
             }
             
             zwrite off 
             Cull Back
             
             CGPROGRAM
             #pragma exclude_renderers gles
             #pragma fragment frag
             //#pragma fragmentoption ARB_precision_hint_fastest 
             //#pragma fragmentoption ARB_fog_exp2
             //#include "UnityCG.cginc"
 
             sampler2D    _GrabTexture : register(s0);
             float4         _GrabTexture_TexelSize;
             sampler2D     _BumpMap : register(s1);
             sampler2D     _MainTex : register(s2);
 
             struct v2f 
             {
                 float4 uvgrab : TEXCOORD0;
                 float2 uvbump : TEXCOORD1;
                 float2 uvmain : TEXCOORD2;
             };
 
             uniform float _BumpAmt;
             uniform float _DistortSpeed;
             float4 _Color;
 
             half4 frag( v2f i ) : COLOR
             {
                 half2 bump = tex2D( _BumpMap, i.uvbump + _Time * _DistortSpeed ).rg * 2 - 1;
                 float2 offset = bump * _BumpAmt;
 
                 offset *= _GrabTexture_TexelSize.xy;
 
                 i.uvgrab.xy = offset * i.uvgrab.z + i.uvgrab.xy;
                 
                 half4 col = tex2Dproj( _GrabTexture, i.uvgrab.xyw );
                 half4 tint = tex2D( _MainTex, i.uvmain );
 
                 return col *_Color;
             }
 
             ENDCG
             // Does not show any visual changes
             //SetTexture [_GrabTexture] {}    // Texture we grabbed in the pass above
             //SetTexture [_BumpMap] {}        // Perturbation bumpmap
             //SetTexture [_MainTex] {}        // Color tint
         }
     }
     
     SubShader 
     {
         Blend DstColor Zero
         Pass 
         {
             Name "BASE"
             SetTexture [_MainTex] {    combine texture }
         }
     }
     
     FallBack "Transparant/Bumped Diffuse"
 }