I too have always been under the impression that oil and water don't mix. But then I remembered that when I had my hardwood floors refinished 10 years ago, they used an oil based stain and a water based poly. The finisher did say that the stain had to completely dry, (3 days as I recall), before he could poly or it would turn green.
Gav's advice of testing on scrap is spot on. It would be tragic to find out the hard way that it doesn't work.
"The difficult we do immediately... The impossible takes a little longer" - Grandpa
Don't worry about nothin', aint nothin' gonna turn out right anyway" - Dad