Broken on dedi as well as in editor.
http://www.youtube.com/watch?v=tI0Y1KKFAFM
If you walk into water the player does not immediately switches to swim mode, Then when he does you can only control direction, and player autoswim in slo mo. If you direct player to the shore it will swim on dry land.
Also I noticed a fish swimming over a rock too, so it must be global issue.
In some of the tries player got stack in endless weapon removing putting back animation loop under the water.
Walk in the water
The bug has been somewhat fixed today, however the transition from walking into water to swimming and back is still appalling.
I remember I had the swimming on land glitch once, at the start of a multiplayer game using the DUWS scenario.
I assume it had something to do with the fact that the scenario initially spawns players out in the water, then teleports them to land once an HQ location is selected, although I never actually got to see the water since my game was still loading.
I had to be shot in the head by my teammates and respawn to get rid of the glitch, as did one other person.