Many different interpretations, but here's mine.

An idea or product that is hindered by lack of careful thought and planning and does not appeal to the masses. The fault usually falls upon the developer of the idea/product. When the product or idea is dispersed to the intended audience, the audience immediately dismisses it. The idea or product was doomed from start.
Here's an idea that takes 'dead in the water' to an epic level.

original post:
'was just thinking. my sister does -alot- of reading, and spends like $1000 a year on just books alone. most of them she reads once then never looks at again. is there any kind of like…video rental store but for books? would make things a lot cheaper, plus once one person has read one the next person can get enjoyment from it etc'

it's called a library
by ±0 November 10, 2010
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slang means termination for no reason whatsover, done and over with from human resources but not support technician....by BR from HR in Dec. 2000....but not from support technician
fool me once shame on me, fool me twice shame on all of you
Support Technician: when i was terminated it was dead in the water...
Human Resources: Terminated support technician for no reason whatsover...
Support Technician 07/07/07 Greeeeedyyyyyy!!!!!
by blthrskt July 5, 2007
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H2O! Replaced now by 'water beverages'.
Dead water is called so because of the new 'aquaceuticals' market of 'enhanced' or 'designer water', like Propel made by Gatorade rich in calcium/ sodium/ potassium/ magnesium/ chloride 'lytes (electrolytes) and trace-vitamins or those that come with caffiene (or, 'caffienated water').
by hammer---;, hytham April 15, 2007
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