You can revitalize silica gel crystals when they become water logged & soaked by drying them out in conventional oven at the lowest setting available. Just pour them out on a baking sheet pan, pop them in the oven and let them "bake" for 15 or so minutes.
Ever since Theodore Gordon was in knickers, I've been using a product made by Cortland called Dry-Ur-Fly to dry my soaked flies. Dry-Ur-Fly is very fine silica gel crystals with NO other floatant added. After drying, I treat my flies with the floatant of MY choice.
Although I have extra in my gear bag, there were many times after a rainy day of fishing dry flies, I dried the Dry-Ur-Fly crystals I used that day in the oven back at the cabin. They are fresh as a daisy when done!!
BTW - If you want cheap plain silica gel for drying flies, look for the product sold to crafters and florists for drying flowers.