The blueshifting caused by the decrease in wave speed as they pass from air to water cannot be the reason for the blue color. Indeed, such a blue shift affects all wavelengths. Much more importantly, the mechanism that initiates vision, or any other light detection, is based on photon energy, i.e., frequency, not wavelength.
Also, Rayleigh scattering, responsible for the blue color of the sky, does not play a role in coloring any external white light source seen directly within a few meters of water, although it does play a role when we observe the color of water from the air.
The real cause of the blue color seen in deep water is the water's absorption spectrum, arising from its vibrational modes. Interestingly, water seems to be a rare example in nature in which color arises from vibrational absorption (rather than electronic transitions).
The liquid water absorption spectrum has a band centered at $760$ nm and two weaker bands at $660$ and $605$ nm, thus in the red region of the spectrum. The vibrational origin of such bands is proved by comparison with the absorption spectrum of heavy water, where vibrational
transitions shift to lower energy, and no blue coloration is observed.
For more details, the following paper could be useful: Braun, C. L., & Smirnov, S. N. (1993). Why is water blue?. Journal of Chemical Education, 70(8), 612.