Hmmm, this question got me thinking!
I have only used pencils in my waterline. Today I tried a white liner on my bottom lids, after seeing it displayed in my daughter's recent magazine. It looked like a hot mess when I was done with it, I'll say that!! I have a gel liner, only one, and I am not even sure if it is waterproof or not, since I only use it on my top lids. I think I'll try it tomorrow.
Something else to consider.... a while back, I bought a bottle of Make Up Forever Eye Seal. You dot it on an eyeliner brush, then dab it in your mineral shadows for an instant waterproof look. It's kind of like fake lash adhesive so I don't know how good it would be REALLY close to the lash line. It would have to be a decision you make yourself. But I guarantee you, if you do use it there? Your liner wouldn't MOVE! That stuff is like crazyglue!
(I got mine at Sephora a while ago... they still have it, $20 for a small bottle, lasts forever!)