"Water Rabbit" is a reference to the Chinese Zodiac, as in "Year of the Water Rabbit". I have no idea what this could mean in the context of the article other than offering a poetic-sounding title.
Just as improbably, it could also be a missing comma typo for Water, Rabbits, and Logs, since the author refers to all of those things separately.
Just as improbably, it could also be a missing comma typo for Water, Rabbits, and Logs, since the author refers to all of those things separately.