Yes it works.
Nikon D2x
Aquatica Housing
Nikonos Bulkheads
Blue band Ikelite digital dual sync cord (important)
Dual Ikelite Sunstrobe 200's upgrade to the latest DS standard
Am I happy with it? Yes
Would I buy it again? Yes
Having said all that, a few impressions and observations.
You should still shoot like you are in manual mode with respect to observing proper flash / subject distance.
When I use the adapter I try and shoot as I do when in manual mode and use the adapter to “fine tune†a more exact exposure. I find I get my best exposures this way.
I find the adapter has a certain power/distance/fstop range ( for any given fstop) within which it can function and will not save you if you grossly miscalculate your basic exposure. I make my best estimation of the exposure needed for a particular instance and use the adapter to “finesse†the exposure by cutting back or extending the flash exposure in small doses.
I prefer to shoot with Shutter priority exposure mode as it lets me sync the shutter at a 250th of a second instead of the 60th or 30th of a second I would get with Aperture mode.
The exposure produced in conjunction with the adapter seems to be more “voluminous†for lack of a better word. My histograms seem to be more broader and the tonal range seem to be “fullerâ€. This may be the reason why others are saying it overexposes by a third to half a stop and why they are dialing in minus exposure compensation. I have been tempted to do the same.
And finally, I do not worry about twisting the adapter between manual and auto modes underwater any more than I do when I twist any of my housing knobs or dials. I find the unit is ruggedly built and will probably stand up to years of abuse.
Hope that helps.