Adding to this, newly installed Unity 5.3.5f1 Personal, I have the same thing going on. Environment Asset Package import results in broken shaders FX/Water4, FX/Water and FX/Water (Basic).
When I look at the shaders in the Inspector, these shaders have an error: undeclared identifier ‘unity_ObjectToWorld’
According to http://forum.unity3d.com/threads/_object2world-undeclared.385227/ it looks like fairly recent changes resulted in an automatic conversion between _Object2World and unity_ObjectToWorld. For some reason, though, unity_ObjectToWorld is not available in this context. If I manually change these back to “_Object2World” the shaders stop being pink, but they still don’t work correctly (flat and blue).
I’m still investigating whether we’re running into version incompatibility or what’s going on, but this may be something that others run into also.
