It DOES react fairly well with water. i'll video a demo for you.
I think you may be right in what you are saying about it reacting over a period of time. it made for good flash 30 seconds after i mixed it, but very poor flash an hour later.
Perhaps i'll carry out some more tests.
Interesting all the same imo
It is interesting proving these things for oneself, however this information is pretty well documented in a fair few respected sources.