Edit: I've been doing a little thinking, and I've come to the conclusion that water balloons can be launched much more efficiently with some sort of elastic system. Catapults can have efficiencies of 80% from what I understand--this is a huge advantage because I'd be struggling to get 30% efficiency with a pneumatic gun. I'm thinking something like a crossbow with a balloon clip could possibly be the ultimate water balloon gun.
This isn't to say that this project isn't going to be made. I've already ordered the parts and have nothing better to do.
