Personally I always think it's nice to know why something doesn't work, rather than just being told it doesn't without any explanation.
I think something that would be of great benefit to the future of model submarines is a combined receiver and transmitter system that you could place on the side of the pond/pool.
This device should be able to interpret the signals from a common brand of 2.4ghz radio (perhaps Spektrum or Futaba), convert it into something lower frequency and transmit it underwater in a lower frequency or perhaps sonically. A special RX would be required to accept the signals, and these would need to be small enough to compete with current 40mhz units, and allow their use in smaller models.
If such a system was commercially available, I don't think anyone would mourn the loss of availability of 27 or 40mhz sets, which aren't ideally suited to this hobby anyway.
I wonder what the law is regarding underwater transmission of radio signals, is it the same as in air I wonder?