I don't think it matters if thc is water soluable or not, as long as its released and activated. What activates it? Heat. I just don't know what the exact temperature is recommended. I've read THC is activated at 175 degrees farenheit and numbers have flucuated between 150-220 degrees from various books and online sources.

Like Opie said, it ends up like an oil slick on top of the water. Obviously it doesn't mix but that does not mean it is not activated. There is obviously something in fat and alcohol that retains the thc/cbn in it's desired state, and I use the word 'retain' very liberally because oil and water is not even supposed to mix in the first place. Very hot water *can* melt the oily crystals on flowers.

I think the trick to it all is to find the desired temperature.