Does Thrumming Stone ripple after ripple
It does work like that.  That's part of the point of Ripple... if your deck is built correctly, you can just keep on Rippling all the way through it.

This ruling on Thrumming Stone in Gatherer may be instructive:


  If you cast a spell that already has ripple (such as Surging Flame,
  which has ripple 4) while Thrumming Stone is on the battlefield, both
  ripple abilities will trigger separately. Assuming you choose to do
  all "you may" actions, when the first instance of ripple resolves, you
  reveal the top four cards of your library, cast all Surging Flames,
  and put the rest of the cards on the bottom of your library. Any new
  Surging Flames are on the stack on top of the other instance of
  ripple, so they'll resolve next. Each of them also has two instances
  of ripple, which trigger separately, and the process continues until
  the ripple abilities don't reveal any Surging Flames.


As you can see, each new copy of Surging Flames has not one but two instances of Ripple (one granted by Thrumming Stone) which resolve.  Ripple keeps on going until there's nothing with Ripple left to cast.