Yes, but he was forming the handseals at a much quicker pace. We're talking pre-shippuden kakashi, not the one who used his jutsus like crazy in a fight lol the first time he took forever to do it, well, he technically took the same amount of time to do the handseals.
make just 2 or 3 selals and repeat them like 10 times and thats it dont need to be that exact also i think i saw some hack with some kind of attack that looked like a beam of water and a dragon head but i dont know wich one :S
edit i found it:
http://www.smashboards.com/showthread.php?s=a1f0cdb3b53292c012e86bcb4c4512a7&p=12718234just look under Screenshots, Proof of Progress, Videos etc spoiler is a preety nice water dragon xD