Answer:
What goes in the water red, and comes out black?
A precious stone, as clear as diamond. Seek it out while the sun's near the horizon. Though you can walk on water with its power, try to keep it, and it'll vanish in an hour.
I am nothing really at all, Yet I am easily found; Ignore me at your own peril, and you might end up crowned!
It holds most knowledge that has ever been said. But is not the brain, is not the head. To feathers and their masters, it's both bane and boon One empty, and one full.
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If it’s information you seek, come and see me. If it’s pairs of letters you need, I have consecutively three. What am I?