Is something similar to this on the roadmap for PhoenixFD? I’m not sure if the research is public/free to use for commercial implementations, but it looks very interesting.
Wave Curves - Two Minute papers
I get that it will not magically make the actual resolution of the sim more granular, but what it does do would be a great addition to many fluid/water simulations.
This with foam / splash on top of it could be great!
This looks like plain old displacement to me. Maybe combined with a grid texture’s data…
Sounds like it’s super easy to add to PhoenixFD then? 
What Svetlin meant was that is should already be possible using the current features in Phoenix.
You could use the Grid texture to read some data from the simulator and multiply this by another texture. Then use the multiplied result in the Displacement slot of the Phoenix simulator.