2 Questions Here

1, Do the Esters in Testosterone cause Water retention?

2, Is there a difference in the degree of Aromatase Outcome between the various Testosterone Esters ? 

1, All esterified steroids do appear to produce a degree of water retention greater than the unesterified version of the same Hormone

This is difficult to show  in evidence outside of one comparison. Dating right back to the 1950’s it has been noted that a part of the apparent superiority of testosterone propionate over testosterone suspension is caused by fluid retention and that it actually produces slightly less increase in dry weight than that produced by unesterified testosterone.

2. No Testosterone Propionate does not Aromatize more or less than Testosterone Enanthate or Cyprionate for an Aromatase pathway involving Testosterone Esters does not exist

Until the Ester is Cleaved the Hormone is NOT substrate for the Aromatase Pathway.

When the Ester is cleaved its just Testosterone.

Aromatase and testosterone fatty

Victor Black