Yes it would continue to work is it was pretty normal H₂0. Only if the water has conductivity due to stuff in it like salt or other disolved things then you will not have a problem. Then again if the enemy when and lobbed a couple of gallons of vinegar into your hull then you could have a problem.

If you are concerned about the conductivity of the water there is an easy way to check. Use a 9V battery and a series resisor of about 2K ohm. Wire the other side of the resistor and the opposite side of the battery to copper electrodes you put into a sample of the water. Then measure the voltage drop across the 2K resistor with a high impedance input meter. If you see a voltage drop of more than about .1 volts then that means that the water is conducting more than 50 uA at the spacing you have the electrodes. At leakage at this level I would not trust CMOS circuits to operate all properly when under the water of this conductivity.

Michael Karas