Kermit,
My first question would be is your set up the only one that is bringing electric power into that area. If it is and you are protected by a tested GFCI and there is nothing by passing the GFCI then you can feel safe.
If yours is not the only source of power then I would not allow anyone to go swimming there even if that unit was installed. First it only trips one GFCI and even if your set up is clean what about others? Second, any system can go from safe to unsafe anytime and the alarm may be too late.
That said I think there is merit to the unit, but I would wonder how big a "zone of protection" it would provide.
Off topic but rant about GFCI's. The first is when they have trips caused by lightning strikes, transient current spikes, intermittently marginal equipment or whatever and people decide they are just a nuisance and remove them. That is one of the dumbest, most ignorant things anyone can ever do. Second, I don't know of anything that makes any system more safe for less effort/money than a GFCI. If you (properly) install one and it trips find out why.