I would think that just as long as its registered as a boat you are fine to take it on the water. I do know the Amphicar has to be registered as a car and a boat if it going to be driven as both. So I would think if it acts as a boat it needs to be registered as a boat.
But the Argo is more of an ATV and I would assume only going across small ponds and streams rather than using it as a boat to go fishing or something like that. So if that's the case it is in the water for such a short time and not in any length of time that it wouldn't be an issue to register it as a boat.
But that's just my thoughts of what might be logical.
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