No, it doesn't work good wet - at least that's what I've read, and my limited personal experience agrees.
I used it once, and didn't like the way it was rendered ineffective when wet. Watering also ruined it's coverage, so that when it dried, it looked like there were uncovered areas of soil.
If you are in some sort of container with a wicking medium such as soil, you could water from the bottom.
Good Luck!