another good trap in underwater structures is the "hollow room". Put something interesting on the wall so the PC's will take a look, like a shiny sword that gives off a faint light. The glow alone will draw them in, then when they touch the sword, WHOOF, the wall collapses dragging them into the room. A monster can be in the room, but the sudden bashing around, loss of orientation with falling rocks/cave in that seals the room FOLLOWED by being in pitch black muddy water were light is almost useless...oh yeah, its a goody.
Remember, invisible monsters recieve a +100 DB and can easily gain flank/back/surprise mods (that's a +55 fyi). With that kind of DB and OB bonus, if you do use a monster trap, you can use some creatures that normally would never slow or bother the PC's, like biting eels that score an A electric crit with any bite crit, pirahna, or any biting fish with a 30-50 OB (instead of the massive 120 OB or so sharks). Just remember to roll one attack against a PC for the group of fish, not one attack per fish, or ya might as well just rip up the character sheets.