Steps to recreate:
[LIST=1]
[*]File->New
[*]Quest->Player; "Player Sprites" window appears
[*]Click 'Options' tab
[*]Set swim speed to Slow
[*]Click 'Sprites (Liquid)' tab
[*]Click 'Swim' tab
[*]Observe speed of Link swim animations
[*]Click 'Options' tab
[*]Set swim speed to Fast
[*]Click 'Sprites (Liquid)' tab again
[*]Click 'Swim' tab again
[*]Observe speed of Link swim animations is the same
[/LIST]