It is doubtful that it will have any real effects, other than cooling your ardor at that particular time and causing an effect made famous by Seinfeld known as shrinkage (fortunately this is only temporary). The fact that it is water, and not ice, obviously means it will not cause frostbite or any other permanent sort of damage... But it is unlikely that you will have your testes in cold water for the extended periods of time (I am talking days here) that it would take to have any real effect upon sperm count. If you ever have mumps, such as I have, you will possibly welcome an icepack on your nether regions.
Over-heating of testes will cause a drop in sperm count, and is a possible consequence of wearing briefs.
Over-heating of testes will cause a drop in sperm count, and is a possible consequence of wearing briefs.