Strider Knives has a demo and description of how to re wrap the handles of thier knives (which have para cord handles) and they don't mention wetting the cord. This is, of course, a differnt style wrapping than I believe you're talking about. Just my own thoughts here, so I may very well be wrong, but if it expands when wet, wouldn't that loosen the wrapping when it gets wet in the field, making the handle inefective, maybe even dangerous?

Chris