So, there ended up being some confusion with our booking (the one I canceled online didn't end up being canceled) and we ultimately did the Float on Water after all.
In terms of experience, it was very similar to the Couples Choice experience you can book on the other ships with the private villas, except this room has no windows. The flow of the treatments was otherwise generally the same - they did a foot wash and exfoliation, we spent time in the hot tub, they did our massages, and then we were served tea and fruit (the fruit may no longer be included based on some subsequent experiences on other ships).
They *did* have the special water beds for the massages. During the face down portion of the massage, it was not noticeably different from a normal massage table to me. On your back though, they reconfigured the beds to be more shaped like a recliner, and they put headphones on us to play 'therapeutic sounds.' You could feel the water element a bit more then, I think because they also turned on some vibration if I remember correctly.
Overall we enjoyed the experience but I would definitely not go in expecting that the massage table is the same as an actual water bed (or a float tank or anything like that). It was a vaguely more cushy massage table that became a vaguely cushy and vibrating recliner.
Here are some pics of the room:
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