Water is just well-covered for debuffs & defensive options, making it a reliable element, but no actual nukes and very restricted options to make your team faster (basically only Sarasvati & while she does the job, she isn't amazing).
Thunder's start-off as a playable element was Mammon, but needs Baal(U) to show signs of being actually good, not just passable.
As for AWs.. I find Pussydon's a lackluster. Her new passive mechanic (20% defense up for all allies against drowned enemies) sounds fine at first, but as I mentioned above, water already has the means to defend itself. They just added one more to it. Meh. Same goes to the extended from 2 to 4 turns of 35% fire resist.
Oh, and what about the rest of the upgrades, you ask? Err.. 404 not found.