Mine has recovered from its bout with a pot full of leftover pasta water. They float rather nicely, but they're not entirely waterproof
I've also learned to keep it well hidden from the cat when it's not in use
Radio Shack also sells the MicroMosquito which is a 3 channel co-axial about the same size as the Picco. What's really impressive is the engineering that went into making a co-axial that small.