I really can't say if there is an actual "Normal" per cent of water content in hydraulic oils and water-glycol products (I assume you are referring to fire resistant fluids)
As you can see from this article
http://www.usace.army.mil/inet/usace-docs/eng-manuals/em1110-2-1424/c-4.pdfMany factors determine the actual determental effects of entrained water. SOme products seem to be able to handle to a greater or lesser degree entrained water before a problem occurs.
It would seem that if it foams, you have a problem. WHen a particular product foams is another matter based on many factors.
So the percent would vary also with regard to detremental effects.
Perhaps other board members could expand on this.
Hope this helps
Hawk