I haven't tested it very much but basically there seems to be an area around my base where it looks like I'm walking on the ocean, purely graphical though. Not sure if it's related to my base at all or if it's just a coincidence, but it's the only place I've seen it. Haven't tested it with other items either, may update this description if I do find more (maybe other light sources?).
I don't know how to recreate this either, unfortunately. I just came back to my base at night without wood for my fire, to find that I was standing on the ocean.