What the title says. It's not even floating in the water, it's just floating above it using the texture it would if you dropped it on the land. Pretty silly.
Steps to Reproduce
Build a Buoyant Chiminea and destroy it with a hammer.
Build a Buoyant Chiminea and destroy it with a hammer.
A developer has marked this issue as fixed. This means that the issue has been addressed in the current development build and will likely be in the next update.