I have had mine under water many many times with no problems. Could never understand guys who pay a premium for a hybrid water machine then are skittish dunking them.
Obviously, make sure your 2 connections are good and tight, with their poor location so close to the housing, finger turning may not be enough [needle nose pliers].
I just use basic coin mode and sometimes manually GB, sometimes not. I wear rings so I do a quick wave test. If the beach is clean I'll jack sensitivity up full, and come down as necessary if there is chatter/falsing. Also be sure to secure the coil wire at numerous places up the stem with zip ties, wave action can cause alot of falsing with a flopping cord.
You didn't say what kind of scoop you have but you'll need a good one to recover, some beaches are soft and sandy and you can dig down a ft with a single scoop, some are hard packed, some are clay, some are rocky, some are loaded with silt/seaweed that make recovery difficult.
As on land, try to set up a grid and do slow, overlapping passes looking for good, repeatable signals. Pinpointing is usually easy, then its up to you and the scoop. The deeper you go the harder it can be to recover. I often get the target on the 1st scoop, and sometimes you can spend half an hour trying to recover a promising sounding target. Sometimes the culprit is a small item like a stud that slips through the scoop, sometimes its a can buried a ft under the sand, along with other things. Don't pass on foil/bottecaps, impossible to reliably separate their signal from jewelry.
Of course, you must also have something to store finds in, including trash. I use a mesh bag that just attaches to the machines handle, and also a carbiner clip to securely store found rings. I also use a floating sand sifter that really helps move things along in the water, especially beaches with pebbly bottoms that can make it tough to locate even a ring in the scoop
http://www.treasurenet.com/forums/beach-shallow-water/507615-floating-sand-sifter.html
But not a necessity, and probably a bit late to think about making one yourself, maybe something to keep in mind for next season.