Relates to MCPE-138121
Pretty tricky to convey this through words, but should be very easy to tell from seeing it.
In versions prior to 18w15a, water's animation was considerably smoother - the animation appeared to seamlessly fade along. From 18w15a however, the animation got considerably visually jittery, without a doubt due to its texture change.
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Here is a proposed fixed texture derived from the old water texture, although it may be a bit too cloudy to be desirable.
I made a resource pack that makes both lava and water look much smoother!
All that needs to be changed is the MCMETA file, as it doesn't have interpolation enabled for water and lava animations.
Can confirm. I attached two comparison videos, one in 1.12.2 and one in 1.16.3.