Land Traps that have been dropped into the ocean play their water animation, but otherwise act as if they were placed on land. Meaning they can catch wobsters and there is even an option to put bait inside them.
Steps to Reproduce
1. Craft Boat and Trap. 2. Drop Trap in ocean. 3. Put Limpets in it. 4. Catch Wobster.
This issue has been fixed in either a future version or updated in a previous version.