You can check the result on the video below. Note that I've used 300 frames for the final animation and also flattened the empty animation curve (Key -> Interpolation mode -> Linear in the Graph editor). I've also added a brightness/contrast node and set the contrast to one. As always you can experiment with lights, color and type of objects to be used as base and particles or even render it using cycles. You can alter the displace speed or add other modifiers (like the wave modifier). Create your own scenes and have fun!
Get the final .blend file from here.