I've talked to the guys at Cobra and looked at a video of the process. Depending on the size of piece you want to dip you would need a big water tank. He also has quite a few jigs that he secures pieces on as so he can dip them completely without hydrodipping his hands at the same time!
The process looks simple but requires pretty good control to get a good job.
I believe he sprays a couple coats of sealer on the finished product to create a hard, scratch resistant surface.
He has some pretty flashy patterns.