I don't believe so, unless you want to do some really convoluted dmap trickery, and even then, you can't have shallow and deep water in the same screen. And the only way I can think of still needs the item bundle script.
In case you absolutely need it, you'd set up the flippers to give you a dummy flippers item as well, which you put graphically on the same spot in the subscreen. You'd disable the real flippers in deep-water dmaps and the fake ones in shallow-water dmaps.
Then you set up the level 2 flippers (which I suppose somehow removes the dummy ones? Maybe as a string control code on a pickup message or something) which are not disabled on any dmap.
Then you set up about a million dmap screen transitions.
That said, I imagine it may be a difficult one to script as well, so...