If you use the texture application tool you can rotate the texture by 90 degrees. You can also select the downwards face of the water with the texture application tool, and while it is selected hold alt and right click the upwards face. This will align it according to the downwards face so it should look more normal.
As for making it look more like water, you can find a waterfall model pre-built as a prop if you simply search "water". That, and there are various water splashing particles that you can find
here!