I've used it on several under water applications with no peeling, flaking, etc. I've had some stuff (aquaclear intake) under water for over a year without problems. I painted the PVC
return line on my 40b with it. As said, just let it cure for a good long time.
"What, exactly, is the internet? Basically it is a global network exchanging digitized data in such a way that any computer, anywhere, that is equipped with a device called a 'modem', can make a noise like a duck choking on a kazoo." - Dave Barry