Kept the water out,
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This review is from: Lomography Fisheye Submarine Case (Clear/Red) (Camera)
It took a little maneuvering to figure out how to get the camera into the case and close the case properly so that no water would get in.
A problem is with the lens cover and wrist-strap that comes with the fisheye camera. In order to fit the camera into the submarine case you must remove the attached lens cover and wrist-strap. I had to use pliers to get it unattached from the metal jump ring. Once that was done, the camera fit well into the case.
I don't think the switch to toggle the flash on and off always worked, but you should just leave the flash on at all times if you are shooting underwater, anyway.
The photos came out nicely and this submarine case was very easy to use in the water. I'm glad that I purchased it. (Also the price and shipping was better here than on the official Lomography website)