Well I'm sure its there for the Sneak attack aspect. Missles don't to so hot underwater, Laser aren't to great either, maybe you should fire your AC but the range would be point blank only. MW3 if you shot your missiles under water they would come out of the pack and then start to sink in front of you. I cant remember if they exploded when they hit the bottom lol.
Eh? I don't remember that at all. Is this another one of those fancy pirate's moon additions?
AFAIK in MW3 if you shot missles underwater, they simply wouldn't fire (much like AC's).