No,
WartFreezer is not designed for treatment for waterwarts. Waterwarts are caused by the same virus (human papilloma virus (HPV). A wart is a hard, callous thickening of the epidermis in the form of a crude cauliflower-like bulge.
A water wart is skin coloured and flat with often a dent in the middle (not callous thickening). It is strongly discouraged to treat water warts with Cryotherapy (cold).
The advice is not to use WartFreezer on water warts.