Is it banable?

I recently got the mount Azure Water Strider and I noticed it is bugged in a sense that even when you dismount, you can still stand on water. This works in bgs as well so I was curious, what if somebody reports me for standing on water without buffs? I don't see it as an exploit simply cause everybody can get the mount and that is just how it works at the moment, but people who don't know about it might think that I'm cheating. So my question is what happens if I get reported for that? Should I just stop using the mount?

I don't think it is but EXACTLY things like this one should be reported to bugtracker so that gms can be aware of them and fix them at some point.

It is reported,I checked. Low priority,unconfirmed...

well it IS an exploit for sure. try to avoid using it as much as possible specially if it gives you an unfair advantage over people. Dont forget to make a bug tracker ticket.