I have similar problem. no caustic effect at all.
Vray 2.0 for sketchup 2016, dongle
in 1.49 I had no problems with caustic.
my settings:
scene units - cm
pool size 400x400cm depth 0-100cm (4 steps)
pool - solid, grouped, default material
water surface - single plane, separated (grouped), material "pool" applied on both sides.
material "pool" (default settings skipped):
reflection layer:
fresnel b/w 1.33/1.55
diffuse layer:
texture - irrelevant jpg, transparency 100%, IR -1.33
refraction layer:
IOR 0 1.33, FOG light blue, multiplier 0.005, dispersion - off/on (it changes nothing), Abbe - 50, affect shadows - ON/OFF (it changes nothing)
options:
double-sided -on, cast shadows - on, trace refl. - on, trace refract - on, reflect on backside - on, max refract. depth - 5
displacement:
x2, texnoise size 9,
vray options based on default settings (by load defaults button)
global settings:
reflection/refraction - on
environment settings:
GI skylight - caustic subdiv - 1000, caustic multiplier - 1-10 (it changes nothing)
Indirect illumination (GI) settings:
GI caustic reflective - on, refractive - on
caustic settings:
caustic - on, max photons - 5-30 (it changes nothing), max. density - 0, multiplier -10, search distance - 5-20 (it changes nothing).
camera settings:
default, physical
output:
800x600
any ideas? thx for help