Help setting up Slin's RefractionEffect Image Effect from the wiki, Unity Pro 2.6.1

I am not able to get this set up correctly I guess, doesn't work at all for me, just either doesn't show any effect or colors the whole camera view a solid color. I'm trying to build an underwater waiving effect similar to a heat shimmer but as of yet I can not even get the rain drops to work as in the example on the wiki.

http://www.unifycommunity.com/wiki/i...fractionEffect

Any help would be appreciated!