Considering it seems they plan content around a year or so in advance, based off them announcing that much at each SOE Live, I'd say we won't have Water powers for at least a year since that post is from just a month and a half ago. I also recall the devs saying back in 2011 that Water would be hard to make fluid enough on the PS3's engine, so my guess is they'd wait until PS3 dies out a few years from now before doing it.
funny you brought that up. I saw on a media comic on youtube showing a lantern comic of the very first lantern and he look like a white hologram human with rainbow veins.
