It's well-behaved on all sorts of papers, and it does some shading on most of them. You can, of course, see the shades of green on Rhodia.
The one negative thing I'll say about El Lawrence is that it tends to dry really quickly on the nib. If you're leaving your pen uncapped for any length of time without using it you should expect a slightly difficult start. Once it gets going there's no problem, but that first line is liable to skipping.
Is it water-proof, you ask? Well, see the video below.