Some water heaters have a safety feature in the combustion chamber that will shut off the gas if it overheats. See here for more info: How does a Thermal Release Device (TRD) work?How does a Thermal Release Device (TRD) work?
As for water being around the water heater, I'd go with what ThreePhaseEel commented. If it's not leaking, then it's probably the Temperature and Pressure (T&P) relief valve. Here is a picture of the T&P relief valve: http://f.tqn.com/y/homerepair/1/W/F/5/-/-/T_P_Valve.jpg
If it is your T&P valve leaking, this question has a bit more information on why it might be leaking: What causes a water heater's relief valve to discharge water?What causes a water heater's relief valve to discharge water?
Also, if you have water all around the floor, that says to me that you don't have a drain pan installed. Seriously consider doing this. Code requires it. If you don't, you'll be wishing you had it if your subfloor starts to rot because water is seeping into it.