First time I've noticed this but on the way in to work yesterday in the heavy rain, when I used the front brakes hard I could hear a distinct hissing from them presumably as the rain water boiled off them. I assume this because clearly the pads are going to sweep the actual contact area clear of water and so the only way water will boil off is if the heat generated is sufficient to raise the surrounding area of the disk to boiling point. Which I presume only happens under heavy braking.