Armory is completely safe, it use nothing of Blender.
I don’t know how hard this is to understand, but blender is like a merely a addon, Like when game dev from different game engine use blender to make their models, it is same in case of armory, when blender is being use for model, they are not forced to show their model, and is same with armory too, because the only difference is that you can hit play button from blender. If you care to look and dig in armory SDK, it is shown that all of the code that is use in game is generated by Blender’s python code, Haxe/Kha, and doesn’t has tids bits of blender code AT ALL.
Thats is water shader(as you know), if you don’t enable the it would not come in your game file, either way, if you include it then it will be the only water shader you will have to show. But as side note, it would be good if we use our own shader.