Very interesting image. It appears to meet the challege as a liquid. My question is what kind of liquid is it? The bubbles in the liquid add interest to this. It does appear to have been slightly over sharpened and possibly generally overprocessed.
Take your time when taking an image and make sure it is in focus, it will save you a lot of time editing later and will keep from having the over processed look.
I cannot tell what this is -- something melting, presumably, but I can't tell if despite the colour it's water (that does rather look like rock salt) or what. This makes it hard to judge how on topic it is ("not water").
In terms of the setup, I think the blue-to-white like a wave-to-foam thing is a neat idea, though.
Is liquidify a word? Some interesting things going on in this picture, spoilt by a few things... Nothing appears to be in focus. I think some creative cropping could have helped, as it stands it appears that not much thought went into composition. There is too much grey for my taste. The highlights are too burnt out. I like the colours and idea though!