Alright well you're going to add a water ride, where do you put it? You could put it in Blue Lagoon and have that anchor the area, but look at Movie World to see the result. In winter MW shrinks because there's no reason to go past Scooby. There's a lot of park that barely gets used, so if you're DW and adding a new area of the park, do you make it something that'll barely be used most of the year? That's also based on Blue Lagoon being available to the park.
Could go DreamWorks land, but space is an issue. Maybe if you did some extensive reworking you could fit it in. Could also replace Log Ride with a water ride but it's time to reinvent DW. A coaster should go there to replace Log Ride. It gets the thrill rides out of Ocean Parade, and would leave Giant Drop, Steel Taipan, Unknown Steel Coaster and Buzzsaw all on the same side of the park.
Where else is left to put it? Ocean Parade. It's a themed land based on water. Duh. The fact it's next to the water park and some guests in that area would be well dressed for a drenching water ride is a bonus, but not the main point. The main factor is it would compliment the rides in Ocean Parade well, add to the theme and succeed in reinventing the park rather than just being a variation on the past.
Also a power splash is the wrong ride for DW for now and probably forever. Height restriction is too high, it's too intimidating for the whole family, is too expensive and doesn't add much in terms of kenetic energy. A boomerang is also a poor choice for DW. A boomerang is a great ride for an up and coming regional park, like an Aussie World or the plethora of small parks in Victoria, but it's too low a standard for a Gold Coast park.