I liked that brief sampling from r.Yaakov mostly for d) here. Some of the imagery he's using seems rather on target, although I question many details; it's not clear at the moment if my arguments would be with r. Yaakov himself or translator's misunderstandings.

With regards to Waters, it's clear that repetition by Akiba has some meaning. It may be a) mere abundance, b) upper/lower, c) good/bad etc. I'm leaning towards reading b), and there's some textual basis for it in Gemara; r. Yaakov's image of water, and shattered world seems confused and unreliable; but I'm not yet ready to make a call.