It looks like those typical sound waves you see in equalizers, just here there are seen in some liquid. Which is kind of cool thinking about how black holes send out gravitational waves that are similar to our regular sound waves. It doesn't seem too implausible to me that the disk looks like a liquid either.. if the particles in the disk are super dense, and from this distance, why not.
Perhaps you could cheat a bit with some PS postwork to make it look more transparent, if you really want to.