COMPOSITION
I agree about the centered composition. It does show the pattern nicely. I might suggest showing more of the green though. It sets up a nice contrast with the yellow and blue, and the yellow diagonals lead the eyes out that side of the picture. It just seems to feel off-balanced to me. Maybe the white area with text needs to be further over to the left, leading more into the picture, or something of that nature.
TECHNIQUE
Great focus and lighting. I cannot think of anything I would do to make this a better shot, technically. (A lot of help I am, huh?)
OVERALL EFFECT
This is a great idea, but I am afraid some viewers might not catch the pattern quickly because it is not blatantly obvious that that is the "rhythm." Technically, it is an awesome shot, but it does feel a bit unbalanced to me.
Das Bild gefaelt mir sehr! Die Flagge sieht so klar aus unter'm Wasser und ich mag gerne wie die Farben so deutlich durchscheinen. Die kleinen Wellen bringen sehr viel Charachter rein. Ein tolles Bild, gratuliere!