Hmmm...You sure it's only rated water resistant? I must have missed it because I never heard that. In fact, a few guys in the Sovereign forum are using it on Excals and such for water hunting. If it ain't rated waterproof that's a shocker, as most coils these days are waterproof. That's thanks to modern advances using micro balloons mixed in the epoxy to drop a bunch of weight, so they can still fill the coil with epoxy and not have it be a boat anchor. Filling a coil completely with epoxy is the only way to insure no leaks.
Many solid coils were often not filled with epoxy before micro balloon technology for that very reason (so they wouldn't weigh a ton), and that's why many of the old solid (pancake) coils weren't rated as waterproof but only water resistant. Beyond all that, water resistant coils are still fine to use in the water provided you put rubber cement on the threads and under the rubber coil cable sleeve that slides down with the coil nut. Tighten the coil nut by hand, then just a hair more with a wrench to avoid cracking it. Only problem with water resistant coils is one pin hole leak anywhere on the coil casing and it's all over, and the fact that they tend to try to float in water.
Either way, anybody confirm it's only rated water resistant?