In all fairness, everything is only "water resistant". I thought I read somewhere that "waterproof" should only be applied to products that can repel water/keep a dry environment for at least 1 hour at some atmosphere completely submerged.
There are several different Inmersion Protection ratings
http://en.wikipedia.org/wiki/IP_Code for different time periods and pressures.
Note that gear that you can go swimming with must have a high IP-rating or (preferably) be dedicated diver equipment. Real life is a bit harsher than lying idle in a poodle of water for 30 minutes.