Following Aurick’s lead, here is what I would do (At least for specularity):
First, using an image editor (Photoshop) I created 3 images:
:red_circle: A [img]http://www2.zbrushcentral.com/zbc_uploads/user_image-1033405995zmt.jpg[/img] Texture Map
:red_circle: B [img]http://www2.zbrushcentral.com/zbc_uploads/user_image-1033406020pjt.jpg[/img] Stencil mask
:red_circle: C [img]http://www2.zbrushcentral.com/zbc_uploads/user_image-1033406056irh.jpg[/img] Alpha Mask
:large_orange_diamond: First, Load Texture A, then Fill layer using a flat material
[img]http://www2.zbrushcentral.com/zbc_uploads/user_image-1033406122brm.jpg[/img]
:large_orange_diamond: Then Load Texture B as an alpha and click on Make Stencil
[img]http://www2.zbrushcentral.com/zbc_uploads/user_image-1033406365npk.jpg[/img]
:large_orange_diamond: Go to Stencil Menu and click on Stretch
[img]http://www2.zbrushcentral.com/zbc_uploads/user_image-1033406397nqy.jpg[/img]
:large_orange_diamond: Select a glossy material and Fill Layer (then turn off Stencil)
:large_orange_diamond: Select the MRGBZGrabber tool. Under Modifiers turn off Shaded RGB and Autocrop. Under the Draw Menu, select MRGB
[img]http://www2.zbrushcentral.com/zbc_uploads/user_image-1033406595zub.jpg[/img]
:large_orange_diamond: Grab the entire canvas.
You can now use the new grabbed texture for your sphere.
Additionally, You can use texture C as an alpha mask and inflate slightly to create some depth.
Here it is, real quick.

Once you have 2 different materials selected, you can play with options to get it right. For example, I selected basic material 1 for the land and basic material 2 for the water. I was them able to add color bump to the land to give it depth rather than using an alpha mask. However, you need to add the same ammount of color bump to the water so the 2 materials blend better. Other attributes should match for better blending, you will need to experiment with this…