OK - I'm no expert on the watercop, but I did pull up the manual - and it looks like it has an RJ45 for control - Pins 5,6,7 are for manual control of it. Basically it looks like Pin 7 is the power - and momentarily tapping it to pin 5 will turn off the water; momentarily tapping it to pin 6 will turn the water on.
If you need help with relay diagrams let us know; if you're familiar enough with the basic premise behind relays, it looks like you'd need two relays for this circuit. One would be for open, and one for close. I didn't see the current limits for this but because of the type of trigger it is, I doubt it would need to carry much current other than for signaling; not to power the actuator.
there are actually a few ways to wire this - some may provide better protection (you should make it so there's no way to activate the open and close at the same time) - but basically you would want Pin 7 to be wired to the common contact of both relays; and pins 5/6 as the NO pins of each relay respectively. Your automation rules should activate the output for one second which would trigger either relay. Using rules you can flip-flop the status and trigger the activation of the circuit and the behavior of the function button.
I'd personally set up the supervisory sensors to the watercop too and drive the status lights based on the real status of the watercop, not the status of what you told it to do - if that makes sense.