Boing, I think that I would check back with the manufacturer on that. Odds are your holster was already treated with water to form to the gun when it was made. The water treatment doesn't work well the second time around. Also like fastforty said, if the holster was properly treated it is going to repel water on the outside (but you can probably get it to take water by working it in - it will eventually get in through the backside). If the stitching is working loose, you could try restitching it with upholstry thread, but I doubt this is the case.
I make my own holsters and use water to form some of my holsters. What the water does is it takes the lanolin out of the leather. The lanolin is what makes leather soft. What happens when you take really hot showers? Your skin gets dryed out, right? Same thing with leather. (This is why hot water works better with this process - the hotter the better.) The bad thing is once the lanolin is gone, it's gone. Resoaking it might get some that was left, but if it was done right the first time, there shouldn't be much left. I hope to have some detailed instructions of this process when the HRC gets up and running, but one tip I will give you is to put your firearm in cling wrap or a balloon before you put it in a wet holster for an extended time. I do this on all firearms, glocks included. Why take a chance?
I would be interested in knowing what kind of wear this holster has been through to make it wear so bad. Maybe you just got a bad holster. What kind of life has it had? Maybe it has been through a lot and deserves to be retired. You know, I am still looking for reviews on holsters for my new site, the Holster Resource Center. A review of this holster would be great. Email me for details on the format if you are interested. Thanks!
************************************
Ronnie L. Shelor
NRA Certified Instructor
Webmaster, Shawnee Hunt Club
Webmaster, Holster Resource Center
************************************
“A man who has attained mastery of an art
reveals it in his every action” - Samurai Maxim
************************************