I'm with you on this DDD. As we live in places that have very high summer humidity, it might be very easy to drop the CPU below the wet bulb temp and then it will fizz. The whole CPU region, especially the back of the socket will need sealing.
Some years back now Wile-e was busy burning down rigs with a TEC, He made some spectacular pictures lol. I expect however that this set up will have relays ready to go (to ensure the water pump is running when the TEC is on)