The Collaborative International Dictionary of English v.0.48:

Waterwork \Wa"ter*work`\, n.
   1. (Paint.) Painting executed in size or distemper, on canvas
      or walls, -- formerly, frequently taking the place of
      tapestry. --Shak. Fairholt.
      [1913 Webster]

   2. An hydraulic apparatus, or a system of works or fixtures,
      by which a supply of water is furnished for useful or
      ornamental purposes, including dams, sluices, pumps,
      aqueducts, distributing pipes, fountains, etc.; -- used
      chiefly in the plural.
      [1913 Webster]
      [1913 Webster]