Okay, so, thinking. We know that:
1) In the room there are several colors
2) Red and Blue have been mentioned several times, both by the elders and by Thales' magical Illusion Away(R)
2A) There are hidden, locked and trapped doors behind both Red and Blue mirror, and some of the colors changed along with a mention of a 'winged pin.'
2AI) Anger and aggression was found behind the red mirror, wizardry and elder magic behind the blue mirror.
2AII) Two keys need to be turned in order to unlock the doors
2AII[Some other numerical indicator]) Spells of opening and closing are are dependent on the light of the torches
2AII[Some other numerical indicator +1]) The shadows don't correspond to the light logically
3) The torches have so far did little but cause tremors, and one of the tremors led to a trap
3A) The tremor leading to the fountain was a trap
3AI) Sorta. If we had turned all of the torches and opened it that way, we would of avoided this trap. My bad there. Anyhow, the hole is rectangular and has a pressure plate, so something goes in there.
3B) Hitting the red mirror causes equal force to be imparted to the user
The treasure is probably behind the blue mirror, the red mirror would open if we press the right thing into the hole in the fountain because of the connected mechanisms. The winged pin is probably important in some way, because it was mentioned, but how I dunno. A way to open the blue mirror is probably behind the red mirror.
I think the water was more a mention that it really pisses the Death Servitors off, so its like poking a bear with a stick when its already cranky is my guess.