Water Bugs.exe is part of a product called known as Keyhole DRM Application and the developer is shockwave.com .
If you think that this file contains a virus or another malware, please download a virus scanner.
If Water Bugs.exe is using too much CPU or too much memory in your system, it is possible that your file has been infected with a virus. Installing an antivirus is recommended.
Not all processes can be uninstalled without the help of a 3rd party tool, especially malware. To see if it can be uninstalled, first go to Start > Control Panel > Add/Remove programs and select Keyhole DRM Application from the list to remove the process Water Bugs.exe from your computer.
If you have any problems with Water Bugs.exe, you may try using a registry cleaner or a speed-up software to check, analyze, and fix problems that are affecting the performance of your computer.
You may try contacting shockwave.com, the developer of Water Bugs.exe and ask for more information.