The one I found appeared to be official... http://www.facebook.com/CoCokeyCincinnati

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That one has nothing after May 8; the one I linked has no posts prior to May 16. Perhaps that disgruntled employee removed all of the other admins from the page, and management couldn't get back in so they had to create a new page.

Ohhh how I love and yearn for a company to be consistent.

Even if they didn’t have the violations, I wonder if the waterpark was dead upon arrival. Much like how KI was an overwhelming force against the Beach, Great Wolf Lodge was a huge threat to Coco Key. I went a few times as a kid and I can confidently say that my first visit was the best and quality dropped with each return visit. 
 

I keep wondering how Coco Keys and GWL could have coexisted in the Greater Cincinnati region…maybe if the former was in Northern Kentucky to give the parks more space between one another.

8½ years between posts. Holy topic bump, Batman!

I believe The Beach's main problem was they never really expanded/updated anything, and then KI kept expanding/updating the water park (which actually opened 5 years after The Beach). The location probably didn't help since you had to drive right past KI to get there, but it was a cool place nonetheless, and they had things that you didn't find at KI (dive-in movies before KI did it, plus a teen dance night every Tuesday during the summer among other things).

I think Coco Key's main problem is they weren't much more than an indoor water park attached to a random hotel in the middle of the suburbs. I attempted to go there once only to find out that that was the one day of the week they were closed, and never made it back before they closed for good. I'm not sure a different location would have helped them much, unless they had been near the aquarium/Newport on the Levee (since there isn't much else in northern Kentucky to draw people from north of the river down there - unless you live down that way, know someone who does or are passing through on the way back east, there isn't much to draw people outside of Devou Park and the Levee).

What ultimately became of the building that housed Coco Key? Anyone know?

The building is still there. The hotel is now a "Delta Hotels Marriott", but the water slide complex outside the portion of the building that housed Coco Key has been demolished. I don't know if that portion of the building is used for anything or not.