I do not see any real advantage to vacuum sealing primers or powder, but there is some advantage to simply putting bulk primers in large plastic ziplocks, bags, etc. Older powder cans made of paper can be more protected in plastic wrap also, but I have only done this in areas that have fire sprinklers, overhead water lines, swamp coolers, etc, and if there is any chance of other stored chemicals spilling near or on the components. (Best to store in a way to avoid this potential)
As for the water tests, about 5 years ago, I bought several items from an estate sale, and a few items has been exposed to water. Nothing major for most, but one 50 cal mil can holding several boxes of 1960's mil 45ACP had somehow become wet inside and left sealed for quite sometime. When I opened the can, the dampness and obvious musty smell was very strong, and the brown paper boxes had deteriorated badly. The brass cases and FMJ's had anywhere from little to much corrosion present. I pulled the worst looking ones and begun the breakdown. After a thorough polish, the bullets were salvageable, and a few cases, but the worst were to be tossed.
Out of pure curiosity, I decided to snap a few of the still primed cases, and viola, they worked. Granted, these were old mil loads with sealed primers and bullets, but given the age and obvious deterioration due to wetness, I was impressed.