Should hopefully be fixed in 0.8.2 hard to test multiplayer issues alone tough (would have to probably set up a dedicated server for testing and I'm to lazy for that). Let me know if it works in multiplayer now.
It's was probably caused by me re registering an event when you changed the update delay setting, and since I changed the default in 0.8.0 you'd no longer be on the default which caused desyncs/multiplayer problems, anyways I'm no longer re registering the event handler so it should work now even if you change the setting.
Let me know if it still doesn't work in multiplayer
Also somewhat unrelated to this issue (but since it apparently worked before the update, while the issue was caused by not being on the default) but you should to change to update delay to the new default (or however fast/slow you want probably should be faster then the old default tough) since it doesn't automatically update to the new default and the old default can be really slow when combined with the limit to the number of water ghosts updated each update (by default this limit is 300 water ghosts per update if more then that are on the map not all of them will get updated every update so this can get really slow with the old delay setting)