I tried it earlier this month with a hermi I pulled. Water cured for 7 days vs air and jar for a fortnight.
I am about to rip a plant with about 6 bags which I want for NYE and will probably water cure the whole lot. The result is smaller(weighs less so not so flash if you are commercial) but stronger and smoother buds, albeit without that 'dank' smell.
I used a plastic tub half filled with water, with a potato masher to hold the buds down, changing the water every day. It was only really days 3 and 4 that I got dirty looking water from it.
I checked the trichs afterwards and they were the same as those on the buds I air dried.
There doesn't seem to be a lot of water curing information on this site, it's one of few topics I have had to google and visit a few other forums for.
Best of luck, but give it a bash, seeing is believing! It's one of those things that just doesn't seem to make sense until you see it in action.
I get the feeling we still don't know jackshit about growing or curing, who knows maybe steam or something totally different and illogical will be the way of the future.