A concept that's a bit overdone on DPC - might be more effective if you used a dark background to get a bit more contrast. The shadows of the bubbles does detract, though I don't know how the folks who do these shots avoid them.
Cool capture. I would have cropped the picture to be in much closer or, failing that, cropped it so that the focal point was more toward the bottom left or right corner.
I think this is a great idea for the "blue" challenge. My biggest concern is that the shot looks rather messy-- Having the liquid on the table left over from the previous shot(s) detracts from the nice clean splash.