Waterford followed up on Friday night's impressive victory over Cork City by fighting back for a dramatic draw against Derry City at the RSC.
The Blues had shown their resolve in their previous fixture following a week of uncertainty off the pitch but Shane Duggan's stoppage-time penalty cancelled out Darren Cole's late peach after David Parkhouse and Izzy Akinade had earlier found the net, ensuring the spoils were shared on an entertaining afternoon.
Josh Kerr and Ciaran Coll came into the visitors' defence as Declan Devine made four changes to the side that lost to league leaders Shamrock Rovers on Friday, while Karolis Chvedukas, Georgie Poynton and Scott Twine returned to the starting eleven for the Blues.
The home side had the better of the opening chances, Scott Twine headed Poynton's cross to the left of the goal after the pair had exchanged passes.
Top scorer Aaron Drinan did nod the ball beyond Peter Cherrie minutes later although he was offside when Zack Elbouzedi delivered his free-kick, and this seemed to spark the visitors into action.
Around the quarter hour mark, David Parkhouse saw an effort blocked off the line by Poynton following Jamie McDonagh's cutback from the byline - the first of a series of chances the Candystripes carved out down the right wing.
The same pair linked up after Barry McNamee played in the winger, although Parkhouse couldn't steer a perfect delivery into the net.
The Blues weren't as fortunate when they combined a third time just before the break to score the first goal the hosts had conceded at home since the opening night of the season.
The Blues lacked fluency in attack in the opening stages of the second half but Reynolds' decision to introduce Akinade at the break brought about his side's equaliser just after the hour mark.
Bastien Hery's last kick of the game was a perfectly weighted ball over the Derry defence and the striker finished calmly having sprinted behind Josh Kerr.
The visitors' biggest threat was now coming down the opposite flank as Junior Ogedi-Uzokwe played in Parkhouse whose touch betrayed him, while a flat cross from the on-loan Colchester United winger almost found the net having ricocheted off Damien Delaney.
The final minutes of the game were fittingly topsy-turvy given the past week for Waterford.
Cole was given an age to shoot by the Waterford defence and punished them suitable by curling a 30-yard shot over Connor but in the first minute of injury time, McDonagh felled Drinan in the box, with Duggan firing low beyond Cherrie to cap an exciting match.
Waterford FC: Matthew Connor; Georgie Poynton, Rory Feely, Damien Delaney (C), JJ Lunney; Karolis Chvedukas (Akinade, 45), Shane Duggan; Scott Twine (Galvin, 72), Bastien Hery (Simpson, 62), Zack Elbouzedi; Aaron Drinan.
Substitutes: Hugo Keto (GK), John Martin, Cory Galvin, Aaron Simpson, Shane Griffin, Izzy Akinade.
Derry City: Peter Cherrie, Darren Cole, Eoin Toal, Josh Kerr (McClean, 78), Ciaran Coll; Gerardo Bruna (Tweed, 59); Jamie McDonagh, Barry McNamee (C), Greg Sloggett, Junior Ogedi-Uzokwe; David Parkhouse (Stokes, 81).
Substitutes: Nathan Gartside (GK), Conor McDermott, Evan Tweed, Patrick McClean, Shane McNamee, Eoghan Stokes, Ally Gilchrist.
Referee: Tomas Connolly