no, if the bike is regularly lubricated, and the water is not salty.

 fair play

 still, not a bikes natural habitat

 My bike sits on the rack on the back of my truck through every downpour, thunderstorm, hailstorm and even freezing rain a few times a year.... not to mention a pool has hardly the destructive forces a few runs down a muddy, sandy trail has! And dont know about you, but my bike is aluminum...not gonna rust and everything else has grease on it down to the derailleur cables....