Cmaas,
On the counterbalance question. Each motor will require two one on each work port. These valves free flow in indirection and are piloted open in the other or restrict flow when pilot signal is lost. I.e. going down hill.
On your design I presume the tires and motor will be under water especially when launching and landing. Will they also be in the water while traveling on the water? Is this salt water or fresh water. Not to beat a horse to death but you might want to check into the rules on hydraulics used in submersible applications in your area for any special requirements on oils, seal requirements, etc.
If using open loop system yes you can run multiple functions off one pump. If running full speed majority of the time a simple fixed displacement pump is the most economical. If running at slower speeds or doing turns on a frequent basis a variable volume load sense pump would create the least amount of heat and waste the least energy.
110 percent agree on the devil is in the details and if you size something incorrectly or miscalculate traction could be an expensive learning curve. Any good reputable hydraulic shops in your area the tspecialize in mobile equipment? They could potentially provide some ideas for you also.