Well, there never was a "Barnes Red Hot." That is marketing lingo added by Knight Rifles: "Knight Red Hots."
A high performance muzzleloading bullet expanding at 1000 fps is moot. To get to 1000 fps, you would have to go through the sonic boom at trans-sonic speeds. travel in the transsonic velocity range. This is the worst possible situation for accuracy -- breaking the sound barrier at the muzzle and passing through it again on the way the target.
The XPB is a 6 petal handgun bullet (developed for the 460 S & W) that expands down to 1300-1400 fps or so.
With the load I'm using, expansion is no issue until past 300 yards.
The problem with water is no elasticity, no circulation, no air pockets (lungs), and perhaps most importantly-- no bones.
http://randywakeman.com/EnergyTransferandBulletBullistics.htm