As far as I can tell, the black water is symbolic of the flooding, which seems to be some sort of catalyst for the events of the series (based on the fact there are no "returned" people from 30 years or more ago). Both in the CGI scenes of the flood and Helen's description of the flood, the water is described as black sludge, likely due to the soil it picked up washing down the mountain. I'm guessing when it starts gurgling up out of sinks, it's just the evil spirits that seem to inhabit the town "flexing their muscles", if you will.
No idea why Camille killed her unfortunate partner, I'm assuming it was some plot twist for season 2, but it bothered me too, since none of the other returned have that problem.
I was also confused by the weird Vampire-ish abilities of the returned. I was half expecting Simon to walk off the bullet, but it at least temporarily incapacitated him.
As for Lucy the whore and her voices, who knows. One of the smaller plot holes.
Peter's aging bothered me a lot as well, since the boy and Helen both look like they did the day they died... 3 decades later.
I think everyone wants to know why they returned, the closest guess I can muster is they all died wanting something, but really who doesn't? Did a whole bus full of people and a town of flood victims also not want anything and die content?
The town seems to have some sort of spirit, but that spirit also tried to stop Helen from detonating the TNT, and it brings people back to life (I assume), so calling it evil is subjective indeed. Apparently, other towns have had the same spirit and it always ends up with their total destruction, but all we have is that reporter's comments about it in Ep 10 to go off.
I think Henry is linked to the town's "spirit", or maybe he is the spirit. Again, everything on that is pure conjuncture. Maybe it's because he's been around so long, but neither Helen nor Peter seemed to figure out how to take advantage of supernatural abilities.
Julie is not a returned, according to Henry, and the fact she has scars from her attack, if it had been fatal, she'd have no scars in keeping with the rest of the returned. I assume Tony called paramedics and they saved her life.
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