Create an Ocean

Open Vue, create a new scene and select any atmosphere you want.
Press the Terrain in Editor button, uncheck Generate fractal terrain and press OK.

You now see the Terrain Editor window.
Increase the terrain resolution to 1024x1024 by pressing twice on the Double Terrain resolution button.
Click on the Add Function button.
Right click the sphere and select Load Function.
From the Bumps collection select the Peels function and press OK.

In the Add Function to Terrain window, right click the sphere and select Edit function.
A Function Added to Terrain window appears, and we now can change the parameters of the function.
Set the following parameters (see a picture below):
Amplitude: 1.000
Offset: -0.100
Origin: x=0.00 y=14.00 z=50.00

Leave the other settings as they are.
Press the Save button.
You will be prompted for a name. Name your function "Ocean".
Press OK in both windows when you finish.
Press Ctrl+M and apply a suitable water material.
Place your terrain to suit your needs and then right click on the terrain in the World Browser window and select Copy.
Right click again and select Paste.

In my scene, I used two terrains that are placed as shown in the picture below :

A nice realistic ocean...