Now that's interesting...
No, I uses ATI, just like you do. I can see the effect is running, there's some subtle reflections there... Maybe the specific *.sim files you made me work with? doubt it though...
You sure you tested it on every angles (left/right, up and down)? It is very dependant on both sun and camera angles, it does not appear like a lot! Often at dawn or dusk times, it would appears when camera is at the right angle, and is very close to the water (camera not being over the sub, but rather pointing upward, not downward, except during certain times when sun is high in the sky)
Try again with the camera closer to the ocean, and also order a full 360 turn and keep camera moving around this way to find a good position regarding sun angle).
The effect is not there to produce a chrome polished finish to the sub
On your two pictures at least, the camera angle vs sun position is not correct for the effect to show up. Camera should be closer to the water on first pictures. On the second one, it is simply impossible to show anything, it's too much above hull.
Lowering camera is the key to see it often, reflections are calculated so your eyes catches them at the opposite angle the light source hits the reflective material, remember your physics at school
As a matter of fact, watch my screenshots, you'll see they're often taken at the same angles... that's why.
Don't worry, you don't see the effect all the time, I kind of tweaked it to make it not overly intrusive and getting annoying.
I'd love however feedbacks from other users to confirm or infirm this bug, should it be the case!