you would really have to wrok to screw up dying traps-- as long as the water is black, it's going to dye traps. I used to leave themin an hour, but found that 15-20 minutes does just as well- after all, the dye bonds to the metal, it doesn't get "absorbed".
dips work fine on water, but if you are trapping canines, be careful with the dips.
my best year (until this year LOL) on coyotes was with speed dip- but was still unhappy with the dipped traps- esp in rainy weather when avoidance became an issue. i know some love dips on canine traps, but experiments I made on dips, vs dyed and waxed- showed me that while dips are quicker, the results are as well.
went back to dye/wax quite a few years ago, and will never go back to dips for canines