I've grew phrags in bubble hydroponics (well over a year and the plants seemed to love it). Lots of oxygen. I've never tried still water, seems unlikely to work but who knows?
This was a demonstration for the college I teach at (was also growing some other plants including tomatoes that way). It was a great way to grow a couple spectacular phrags. It is a horrible way to grow an entire collection of phrags, way too much work. It can be done, but I don't recommend doing it with more than a couple plants...
I may do an experiment with fish and phrags at some point. But flood and drain beds, not constant water. It might work. Or not.