Often, the toy RC responds to the entire band, so it doesn't matter what particular frequency the set claims to be, it will get swamped by anything broadcasting on that band. Very occasionally, a toy transmitter at very short range and with a nice new battery, will interfere with a hobby grade setup.
As long as the aerials are above water, all the bands work. Signal strength and thus range are reduced when underwater, more so in salt water, and the GHz frequencies just don't penetrate water at all.