Sure, happy to share.
There is a little electronic wizzardry required if you don't want to be throwing away 999 of every 1000 shots.
Even with it, I took around 3-400 in this set, of which I have hung on to 69 as potential 'keepers', with no.1 above being the best so far. (I'm about a 3rd of the way through editing)
So, starting from the top, I made myself a dropper resevoir out of an old coke bottle, some pvc tubing and some barb connectors. I turned it into a Marriott syphon - this is important, as it regulates the head of water in your dropper resevoir (if you don't regulate the head, as you continue through your shoot, the pressure changes and therefore the size of eachdrop reduces over time - this affects your timing).
The resevoir feeds into a solenoid valve - this is a small electronically controlled valve that is normally closed, but can be opened for very precise lengths of time.
I made myself a little electronic circuit to control the valve and attached it to an Arduino programmable microcontroller board, which I programmed to do the... controlling

This combination enables me to release two drops of water very precisely timed.
Water dropping into a pool has some amazing effects - first you get a crown, then it goes flat again, but the drop that just landed is still moving under the surface and eventually 'bounces' back out of the water in a column. If you time your second drop very very precisely, you can get it to collide with the first drop as it is on it's way back up. This produces the 'umbrella' effect.
NB the timing needs to be accurate to between 2 and 5 milliseconds.
To get the timing for your second drop, start with one drop and take shots increasing in 5ms intervals, noting the time when the drop passes where you want the collision to occur and the time when it bounces to the same height. If both your drops are the same size, they will take the same amount of time to arrive at the same point. Do some maths and you can work out how much time to delay between releasing your first and second drop.
(note temperature and atmospheric conditions affect the timing, so what worked one day doesn't always work the next).
So that explains how to make the water do it.
Then you have to get the camera to capture it.
The first thing to note... Your shutter isn't fast or accurate enough.
You have to open your shutter and use your flash to 'freeze' the motion.
The second thing to note is that at full power, your flash stays on for too long.
I find that 1/64 is good enough, 1/128 is better... but you will need 2 or three to deliver the light because of the third thing.
The third thing is that these things are small and you are close.. meaning your DoF is tiny.
To get acceptable DoF, you need to be f14 or higher... which plays havoc with the need for very fast flash.
Everything else is artistic abandonment...

For all the shots above, I had red food dye in the resevoir, dropping into a black baking tray that I had spray painted matt black and filled with approx 95% water and 5% whole milk.
The rest of the colouring is 100% gels on the speedlights.
I built a second electronic circuit to trigger my camera (using an adapted shutter release cable) - Be very very careful if you do this, I will not be held responsible for you frying your camera - I used opto-isolators to ensure that there was absolutely no electrical crossover between the timer circuits and the trigger.
The timer program also then triggers the MUP and takes the shot at the precise time.
I have some wireless triggers on my speedlights, so that enables me to get a bit creative with the lighting angles - i find hand holding the flashes and moving them around, checking the results every 2-3 shots to see what looks to be working is a good approach.
For the reflection, some light from behind is necessary - this needs to be diffused. Some people use acid etched glass to do that (and when I can get my hands on some, I probably will too), but for now, I use a flat white diffuser to bounce a rear flash off.
Something to note is that because your shutter is open longer than you'd like, ideally you have ot work in the dark.. which can be fun - especially when you accidentally kick your tripod and have to set the whole dam thing up again...
There is between 30 mins and an hour of PP for each shot, taking out stray water drops (of which there are lots usually), tidying up occasional bubbles, noise reduction, etc.
This I hasten to add would probably be faster if I was better at it
