I've done it a few times in the water after having my kite tumble on me. I think its easier to reassemble in the water. If you're in powered conditions the kite will pull the slack out during reassembly.
I agree its not the easiest system to reassemble and it is possible to put it back together incorrectly. The 2013 system will only go back together 1 way and is easier to reassemble with the addition of a catch but still not the easiest.
I love this bar for the coated depower line, comfy bar ends, swiveling leash attachment, clean line arrangement and chickenloop that is reinforced to hold its open shape.
The safety works great and will release even if you have zero line tension (something real handy if your kite is Hindenburging) but it could be better in the reassembly department. Something for 2014 I guess
I still think this is the best bar you can get though.