Can the Outer Dark Demon fly in any zone including a shark/water zone and stay in flight there if he wanted too?
Also can a figure (hero or pirare) with swimming trait jump in water to hide from archers attacking? Lol... I mean I know a stretch but good to know!
Not sure about the first question, but I would guess yes.
For the second question, definitely not, at least in Hunting the Tigress. The rules for that scenarios specifically state what happens to both minions, heroes, and bosses if they fail a leap and land in the water. Minions are immediately killed (eaten by sharks), while heroes and bosses are just placed back in their original area.