I don't think anyone ever claimed that Wool Socks repel water like a peice of vinyl siding. If you put on a pair of wool socks and jump in the water they are gonna get wet. One of the many benefits come in the time it takes for them to fully dry.
Next time you go out, take a cotton sock and a wool sock, dip them into the river, then lay them on your tent or makeshift clothes line.
For hiking and general use, I acutally prefer a synthetic blend...
......made in the USA.
For cold weather & cold water I like a merino wool sock....
Each to his own I guess.