No doubt one of you guys will correct me if needed; but as far as I'm aware, water is never an oxidant, it is in it's self an oxide and hydrocarbon combustion is an inaapropriate reaction to reduce it.
It's a coolant.
Wiether that means increased charge density or anti-preignition I'll leave it to the engine guys to discuss.
I'm very curious about the pressurized coil. True, air is an insulator, but the abscense of that insulator high alt/low pressure)does not mean the remaining interstices have been occupied by a conductor.
It's more likely mechanical defects in the windings (such as bubbles in the resin) were being exhibited.
And another thing...why doesn't the spill chacker thingy work?