Interesting Mythbusters the other night. They got a long tank, filled it with water, installed a Ransome rest and fired all manner of guns under water. To make a long story short, the pistol and rifle rounds did go some distance and could be lethal at short ranges, but they put a 12 ga shotgun, looked like a modern Savage 311, any one else see this and identify the gun?, it was new anyway.
Well this was really interesting, the shotgun was fired underwater and when they pulled it out the fired barrel was burst about a foot from the breech, and the action was badly cracked at the back of the water table, so the gun was ruined.
So I guess now I know what happens when you fire a shotgun under water, don't!
Mike