There have been rumors that Universal Studios has plans to add a water park since about 2011, when they filed a trademark for the term "Wondersea Island." The trademark, filed for use as "entertainment services in the nature of water parks," was just renewed for a fifth time in January of this year. A new trademark filing for "Volcano Bay" is adding fuel (er, water?) to the rumors. If built, the new park will go up just south of Universal's new Cabana Bay resort.
The filing states that the term "Volcano Bay" could be used for "entertainment in the nature of a water park ride." So, it's entirely possible that Volcano Bay could just be one section of the new park and not the entire thing.
"Volcano Bay" has a lot of possibilities. Parkscope suggests that the name would be ideal for the wave pool section of the park: you know, a big volcano in the background that "erupts" every seven minutes or whatever, causing crazy tidal waves in the pool. However, it would be super-awesome for the "danger" area of the park, with the volcano acting as a home to the parks thrill-seeking slides: you know, the ones where you're put into a vestibule, the ground just falls out from underneath you and woosh! Wedgie.
Whether the park ends up being called Wondersea Island or Volcano Bay, Universal's got a lot of already-existing properties that would make some pretty sweet water park attractions:
And even though it's owned by Warner Brothers, Universal Orlando's the only theme park we'd trust to re-create the water slide from The Goonies properly. Seriously, what isn't that a thing yet?!