Your urine being clear is GOOD SIGN. You want it to be clear, that means you are getting enough fluids in your body and it is ridding of all the toxins within. You cannot die from drinking the amount of water you are currently consuming.
A spike in LH and FSH (LH surge) causes ovulation, following a suppression of GnRH. Estrogen levels continue to rise following ovulation and the corpus luteum forms, which secretes progesterone in significant levels and causes decreases in LH and FSH levels.
Progesterone is known to have effects on other female organs. In the ovaries, progesterone and estrogens are thought responsible for the release of an egg during ovulation. It is believed that if the egg is fertilized, these hormones are influential in the prevention of further egg release until the pregnancy has terminated.