Don’t use water, as Tony said it’s far too viscous. Alcohol is best, it’ll find leaks easily, and it doesn’t cause rust on the seats.
Personally I’d have just lapped them, though I have a device for that.
To fit the collets.
Clean the stem after insertion.
Small dab of general purpose grease on the retainer side, then a tiny amount of grease on a small flat blade screwdriver.
Press the driver on the collet at the appropriate angle to clear the compressor head, then press to the valve stem, slide the screwdriver up and off.
Repeat.
Release the compressor slowly and you’re done.
The grease prevents the collets ‘firing’ anywhere, even if they dislodge they’ll stay right there.
Wipe off any excess, the rest will dissolve in the oil.
By far the best method of doing it.