User blog comment:Jimeee/Mounted combat to arrive in 1.6 update!/@comment-3428817-20120526035615/@comment-76.179.40.209-20120526124052

Actually, you can fix the water issue now. Go to the XMB menu. From there, go to Game>Game Data Utility. Delete the game data and title updates for Skyrim. Your saves will be fine. Start Skyrim up, and it will have to reinstall the update. Going into water will no longer freeze your game.