My thoughts are little bit different. On Earth, every living organism depends of water because Earth is made 71% of water and it is normal that all living forms during millenniums have evolved into water dependant creatures. This is situation on Earth but that doesn't mean that same thing is necessary everywhere in the Universum.

As much as you are right that forms of living organisms may develop in some waterless environment, liquid water is a CERTAIN sign of some form of life. If we are talking about magic potions, water is the most magic of all — it is the potion of life. :)