From the website:
"NEW YORK CITY-April 13, 2004 - A new chemical concocted by scientists at the Tyco's Fire and Security Division looks and acts just like water except for one thing... it doesn't get things wet."
also:
"As part of a demonstration, Pelton submerged several items into a tank of Sapphire that was on the Good Morning America set. Books did not get wet. Electronics were not be destroyed"
Items that have been submerged in the chemical ("sapphire") apparently show no ill side effects, although this is only according to the Good Morning America staff involved in the demonstration. I'll reserve judgement until it's been subjected to extensive testing - and I hope it is, rather than simply being released and assumed to be safe - but it does sound promising.
Full story: here
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