Outstanding job on the water streams, Manny.
Here's my take on it.
With recognition of the "physics" of the whole issue, and with respect and deference to the smarter-than-I people here arguing that point, I think that the "spouting water" effect conveys precisely what you want the viewer to take away from the scene. This is a perfect example of "Artistry" in action!
How many times in Holllywood movies do you see something where you know that the laws of Physics are being egregiously broken, but you still say "WOW! That's COOL!!", and you "get" what the director is trying to say? Like the latest Indiana Jones movie--the whole thing was an abuse of Physics! LOL!
Visually, it's like putting a huge pair of shoes on a guy to show that he's clumsy just by looking at him.
I would say don't change a thing--the artistry implicit here makes it perfect for the scene. People looking at that spouting water are gonna say "Oh COOL! Look at where the bullets hit the water barrel!" They're not going to argue the physics of the thing.