From what I've read, the material is compressed so it should un-bend if it fully returns to it's original moisture content. They say it is sent at a moisture content of 20-25%. They recommend that you then dry it (air, heated air or dehumidification). When dried the "compressed wood will be quite stable in the 5 to 10% MC range, and less stable over 15%. ... A 1/2" board should kiln dry in about 3 days at 110F."
http://www.puretimber.com/finishing/

There is a "marine" section on their website.
The mast hoops for the USS Constitution were made from their red oak. The owner of the company also built a neat skin boat.
www.puretimber.com/for-boat-builders/

So reading this, unless the piece is VERY thin, just getting the surface wet shouldn't effect the bent shape. I would think that you would have to soak it for an extended period to get much spring back. It would be an interesting test if anyone tries this.