Hi Holger,
The closest thing I have to documentation is this page:
http://www.bundysoft.com/docs/doku.php?id=l3dt:algorithms:wm#water_table_and_salinity_mapping
...which explains the basic concept of the algorithm.
The important parameters are:
Wtable->Fall param
As the heightfield drops (e.g. going down a hill), this parameter says how much of that change in height affects the height of the water table. Usually this value is 1, so that (for example) if the heightfield drops one metre, so to does the water table. For lush valleys, sometimes you might want to make this parameter slightly smaller than one (e.g. 0.98 ), which will have the effect of brining the water table closer to the surface in the lower parts of valleys.
Wtable->Rise param
This one is much like the fall param, except for rises in the terrain height (going up hill). Usually this value is 0.5, so that (for example) if the heightfield rises one metre, the water table rises 50cm. There is seldom much need to change this value, but feel free to tinker.
Wtable->Loss param
This parameter says how far the water table falls for every kilometre travelled. Usually this value is 10m. If you want the water table to drop-away faster, make this value larger.
The other parameters in the wizard are for salinity, which work in much the same way. They only have an effect when using sea water bodies in your maps (not just lakes), and when using a climate that is sensitive to salinity (namely 'temperate (coastal)').
I hope this helps.
Cheers,
Aaron.