User blog comment:Timeoin/1.5 Patch For Consoles/@comment-50.105.210.119-20120405222234/@comment-4787430-20120406045145

There was an update posted on BethBlog about this very issue a while ago.

Update: Some PS3 players have reported crashing issues when entering water. If this is occurring for you, you’ll want to clear the game data for Skyrim.