Can you post the error? I suspect its because you need to install DirectX 3D, its a common error that players get.
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FATAL ERROR in Vertex Shader compilation
ShaderName: shader_liquid
D3DXCompile failed - result
at gml_Object_RenderWater_Draw_0
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stack frame is
gml_Object_RenderWater_Draw_0 (line -1)
That's what it says.