Last years baby pond lilies are throwing up leaves but they do not look very healthy to me. Dull, blotchy and small. What can the problem be?
Sand
Dunno, I introduced a small lily onto a shallow shelf and it seems to have got it's act together!
;D
Have you repotted them? Lillies love their food and having a lot of space to grow - Try getting a larger pot and some good lily fert.
Also, Make sure all of the leaves can reach the surface of your pond and if not stick them on some bricks as they'll do much better.
Update,
I trimmed back all the frayed leaves and now have some lovely healthy shiny new ones.
Sand
Sand, do you have any tadpoles in your pond? I only ask because they have nibbled the heck out of some of my lily leaves? They are all sprouting legs now (the taddys not the lilies) so it wont be a problem for much longer. ;)