I don't think any Bug with heavy Fuchs wheels would ever float, for that you'd need BRMs or DDS, something nice a light
Oh, and the car in question belongs to Alex 'Naughty' Noel and it got damaged in the floods in the summer of 2007. This photo was taken when the water had already gone down a bit. Amazingly he changed the oil, changed the plugs and drained the exhaust header and it ran fine!
It needed interior, and a lot of drying out, obviously.