Does the water still crash the editor in big worlds?

I had a similar (possibly same) issue.
In my case, it was the Landscape_WaterBrush. I don’t think it’s so much the water actors themselves as the dynamic landscape editing they can do (managed by the WaterBrush and associated EditLayer).
It breaks some WorldPartition functionality (load/unload).

I did sort out a bit of a work-around, though the water actors will lose the ability to edit the landscape: