Set up was a cd, mirror, water on the mirror, a bowl of water, black background, one hotlight to the left of camera and an off camera SB800 to the left. The hotlight was mainly so I could focus on the cd, which I hand held over the mirror with water. I set the SB flash unit close (about 18 inches) from the cd. After focusing in manual, I dipped the cd in the bowl of water then held it in the focal range over the mirror and snapped away. The flash has a cool rainbow effect on the cd. I slightly tilt the cd to pick up as much of the spectrum as I can get. The drips are obtained by dipping the cd into the bowl every few frame.
In post editing, the drip falling was lightened and then colorized using a change target color brush and the reflection in the mirror was soften for more reflective look.