The Dreadwake

This mount needs water walking.

Yes, there will be a slew of "omfg you can buy water walking, not fair, I worked to get my water strider!".

I DID work to get my water strider in Pandaria... but I've been using it for FIVE YEARS - and much more than I thought I would, with the advent of the pathfinder system.
It's ok to give water walking away, I won't be hurt.

I'll put my water strider to pasture with a smile and a hearty "YAAAAAAAAAAAARRRR!".

It's a mini ship mount that hovers above the ground.
Yes, you can take it into the water. No, it doesn't have any benefits while you're in the water. Yes, it is a flying mount.
It's just a mount. Would water walking or swim speed have been a great addition? Absolutely.

If you're having trouble locating the mount, make sure that your filter includes items from the shop. Even though it's a gift from blizzard, it's still tracked as a store item.

To echo what a lot of people are saying here, Blizz missed the boat on this one, scuze the pun. It is a cool mount, it appeared in my inventory unexpectedly (found out it was because I buy subs twice yearly) and I was pleased to get it. But if people have to buy it in store, it was just begging for:

Water walking - it's a boat! I love my strider but would be nice to have something else that floats
Fishing from it _ it's a boat! Would be cool to fish from
Multiple occupancy - more people to get onboard. Could have had a cool sound byte "All aboard!"

But I like it, and can't wait to be able to fly with it in Zand. I'll feel like Peter Pan!