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Will the new client fix the lava and water bug?
I hope so.
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Fairly sure they already discussed this, but yes they will be fixing many, if not all, of the current 1.7.10 bugs that Mojang has simply left behind. This includes the water/lava bucket misplacement bug.

EDIT:

MasterGberry wrote

- Badlion PvP Client (a modded version of Minecraft) that improves the performance of the game and fixes competitive bugs and exploits within the game which can be used on any public server
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YES
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