So doing this as a traditional painting sure didn't last long. An hour in and I just couldn't see the point in spending so much extra time on it because I wanted it in oils.
So I switched to working on it digitally. Here's how it's looking so far. May crop out the troll's legs so that we're closer to the action. Plus the legs are boring. Then I'd probably scoot the far dwarf up on the picture plane. Probably kill the saturation on the background blue a bit. If I keep the legs, I think I'd add some mist and/or some standing water around his feet. Not sure about the water dripping from the ceiling. Like the idea but not the current placement. Maybe it'd be neat landing on the figures some so we get some nice splash effects.