When your character has JumpHeight = 0 and JumpPower = 0, you can time holding down the jump button in water to gain incredible height. In the below examples, this is amplified by the fact my game uses a lower workspace.Gravity value.
With JumpHeight and JumpPower as normal, the issue does not occur:
Expected behavior
I expect the character not to launch itself stratospherically above the water surface. Instead it should either:
not be able to ascend above the water surface (interpreting 0 jump power as “should never leave the surface its on”, in line with the current interpretation on dry land)
launch a normal distance out of the water surface (for the purposes of entering and exiting water bodies)
Something definitely looks funny here. I am also seeing some odd behavior when exiting the water. Can you provide a simple reproduction case so I can see the specifics of your setup? Assuming I am seeing the same issue as you, it seems like the odd behavior only occurs with JumpHeight identically equal to zero. Using a low value like 0.01 gives the expected behavior.