>>12530093God I hate water memeory with every bone of my body but I would say yes.
There is a thing known as a water computer. It's essentially a way to use the ripples of water on the surface of a shaped contained to calculate things rapidly. It isn't better than a normal computer, although there was a mathematician I was talking to whose researched involved modeling super small quantum systems using water droplets bouncing in the presence of acoustic waves.
As for the more esoteric question I think you were asking about the ability for water to form transient calculations through differential arrangements of hydrogen bond networks. I would say it would need a fucking insane amount of water a low level of impurities, time, and stable energy sources. But by that point you are just making a jellyfish that has complex processes in dilute enviorments which in a more impure enviorment would have just made normal fucking cells.