When the Titanic sinks all six dwarves and Kevin end up in the sea clutching a lifebelt. The water in which the Titanic sank was freezing - that is how most of the casualties died, by freezing, not drowning. In water like that you'd be lucky to stay conscious for more than a few minutes. Despite this none of them show the slightest effect of the cold. Maybe the dwarves have some 'magical' ability to withstand lethal cold, but Kevin doesn't even react to being plunged into freezing cold water. He'd be screaming in pain, but he doesn't even show the slightest sign of discomfort.
Throughout the film there are several references to a character named Horseflesh, (such as "Horseflesh would never get us into this mess"). Despite the character being credited at the end of the movie he's never properly shown onscreen. There's a paragraph devoted to him in the published "Time Bandits" screenplay: "The trouble is quite frankly that if Horseflesh had been in it he would have made seven dwarves, and we'd have libel suits from Disney and all sorts of things. But we liked the name, so he remains the mystery dwarf." According to the interview with Michael Palin and Terry Gilliam on the extras DVD (produced in 2002), Terry Gilliam states that Horseflesh is the dwarf seen with Evil, though it isn't mentioned who he is; in the original script he had quite a few lines, but they were cut, eg "The map! Evil one, the very map I promised you, is yours" (from script excerpt shown on DVD).