This is only my opinion, of course, but I don't think that adding a couple shallow water channels will have any noticeable effect on wet weather performance. If anything, they might help slightly, but probably not noticeably. My guess is that dry weather traction will be slightly but not noticeably reduced when the bike is upright, because of the slightly reduced contact area. In a thousand miles or so, they'll be gone anyway.
If I were a government safety official, I'd recommend throwing the tire away. If it were my tire, I would not be the least bit concerned, I'd keep an eye on it, and I'd buy a smaller tire next time.
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