Yes, it won’t work for people who can’t manage a day without eating at least from time to time, although you can also try slowing down the rate of change.
As I said in another comment, changes in water retention (and scale flucuations etc.) don’t really matter because it will come out the same on average.
Eliezer isn’t arguing with the mathematics of probability theory. He is saying that in the subjective sense, people don’t actually have absolute certainty. This would mean that mathematical probability theory is an imperfect formalization of people’s subjective degrees of belief. It would not necessarily mean that it is impossible in principle to come up with a better formalization.