I took a look in that water reflection BUMP that you showed me. the XDB that points to the texture has the following entries.
REGULAR
CONVERT_ORDINARY
WRAP
TF_565
1024
1024
0
1
0
-8684289
false
false
false
true
false
What value do you use for AverageColor and is it possible to be causing the purplish colors? Also a side question - what is the meaning of ?