I thought a dry buckle was a buckle caused above the water line by bending the pipe too much, whereas a wet buckle was the same but, becaue it's underwater, there's external pressure on the pipe so the buckle can run, propagating along the pipe until it either reaches a point where the external pressure is less than the buckle propagation pressure or until it hits a buckle arrestor? However, it is some time since I was a pipeline engineer, so I may be wrong!
I remember putting buckle arrestors on pipe on a lay barge every 5 doubles, but I never put any on any onshore lines I built.