Same here. One thing that works is enhances the vision, but it does not extent by 50% breath. I am in the quest Through Time and Space, 2nd location with gas clouds where it takes your breath. Theoretically it should do the same trick of extending breath, sadly it does not.
Before this quest I tried it two or thrice elsewhere thorough the game, not sure if it worked or not, but seems not even then, and I tested it underwater of course as well. While the enhanced vision works, the extended breath does not work for me either.
One location where I tested it was going to Bald Mountain meeting crows and Imlerith, to get up I had to go through the challenge of retrieving blind woman's coin in the water of drowners and later face the Fiend. And I tested some ocean places in Skellige.
I use mods like FCR3 that fixes bunch of game bugs etc. Have to check the log file if there is a mention of Killer Whale potion fix as well, otherwise I will try to look up on Nexus mods if there is a mod that fixes it as well, since I literally don't see any difference from using Killer Whale besides giving me a brighter vision in the dark underwater, might as well use Cat instead then.
Update: There are no reported issues with it and neither it is in the fix log in description of the made changes.
Post edited February 12, 2020 by smaddeus