Yes, the new Google Earth 1.1 for Android lets you explore the oceans covering three quarter of the planet. Available free on Android Market, depending on your location. Google Earth is not available for me. I downloaded it while in Frankfurt earlier this year. However, I lost it after performing a hard reset of my Nexus One last month. Beside the under sea exploration, devices running Froyo offers Flash balloons so you can watch videos right in those balloons. I would love to try that to see how it affects my Nexus One performance.
"The “Explore the Ocean” layer, which features hundreds of photos and videos from more than 100 contributors who are excited to share their stories of sea."
Google Earth 1.1 runs on Android devices running version 2.1 of the OS. The Flash version works on 2.2 devices only.