This reminds me of two other such happenings. The first being the crypt bats in the asylum (when you first enter the asylum and you in the water). The bats are up high and they fly down the get you, well most of them fly under water. It can be a real pain in the butt trying to target a bat flying under water.
The second time is in the collasium at the end when you use the two glow stones to open the two rooms with the leavers to get to the chest with the last peice of tablet in it. Well just infront of this chest (which is above water) I repeatedly had sharks there just hovering in mid air. And being out of water doesn't seem to affect there breathing either as they don't die unless you kill them.
Just two more bits of useles info..lol. Made me laugh at the time though.
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......shake it baby.