I immerse mine in water all of the time. Mine have, on drying out, returned to functioning, as well as I can measure, accurately. I did try a competitor of their's, can't recall the name brand, and did not have good results. On trying to remove it, the thing delaminated. I was able to remove the remains with GooGone citrus oil solvent and a lot of elbow grease.
Primary: , Boddington's Clone, Mirror Pond w/Marris Otter
Bottled: Fullers ESB Clone
Kegged: Mirror Pond Clone
Drinking: BM's Kona Fire Rock, Dead Guy Clone, Alaskan Amber Alt Clone, Firestone DBA Clone, Magnum/Crystal IPA
Next up: Burton IPA