since water is only hindering for movement can you place barrier on water terrain...........q

Yes.

Actually, it IS hindering terrain, even if it does not block LoF so the answer wold actually be NO which means no Barriers with Atlantis Rising.

Doh! My bad. ^ He's right. Needed sleep at the time of the post.

I am sure they didn't mean for this to happen when they designed this card but wow.

you can put barrier on water i think because water terrain is not hindering terrain, it's treated like hindering terrian for movement purposes but thats it, you don't get the +1 def bonus, you don't get stealth, ect... so i think you can.

Incorrect. From the Universe Rule Book (page 19):
Water: Shallow water features, such as streams and ponds, are hindering terrain for movement, but not for line of fire purposes. Characters that can swim (that have the dolphin symbol on their base) treat water terrain as clear terrain for movement purposes.

Doesn't matter that water doesn't hinder LOF, it *is* hindering terrain, which means a Barrier can't be placed in water squares.