I've done a little homework to see what's going on here. In short, I fear the worst. A few e-commerce sites have the reissue listed as delayed until mid-March. I hope that's the case. But I should point out that the website of the distributor/manufacturer for Water, Runt Distribution, is now essentially down. I called Runt for info and their number has been disconnected. My email to Runt was bounced back to me. I don't want to start any false rumors, so I'll let you draw your own conclusions as to what is going on here. I don't know what's going on, but I have inquiries out to a few people who might.
I suspect we'll learn more about this situation in the coming weeks. But I have a bad feeling about this, especially since Runt is also the distributor/manufacturer for the much loved vinyl reissue label Four Men With Beards.
I'll keep you updated as I learn more. Until then, here's a little something to hold you over until this reissue materializes.