I interpreted it as a sign that reality itself is tearing itself apart. I think it is mentioned as such in some places, amongst others where Faile thinks that she herself feels as if she's falling apart. I had the feeling it's written the same way as the effect after Rand BFs Graendal in tGS, where its also said that "reality strained itself to keep together.

Are you suggesting with your options that the ripple is an effect of the use of weapons of the Power? Like an aftershock?