Mythbusters tried orange juice in trying to resurrect "results" from an old episode of McGuyver. They failed for a variety of reasons to make it work. They were trying it on color film as well, so they were jinxed from the start.
Exposed film dropped into water should be salvageable if kept wet, in the dark, and processed promptly. Trying to dry it out would make it stick to itself. Unexposed film dunked in water would lose its anti-halation dyes and maybe some sensitizing dyes. It might make for an interesting experiment to unspool it, soak it in water, dry it, put it back in a cassette and run it through a camera, but the results would be unpredictable.