i have heard that bamboo is actually a good addition to fish tanks. they are hardy and last longer times and look a whole lot BETTER than pvc pipe. use it for caves or even deco. just make sure the edges aren't sharp and yu should be good.
* i havn't HEARD of any people with problems using bamboo in tanks*
If you're refering to real bamboo (and not Lucky Bamboo), then also be aware that it's quite bouyant, and quite a bit of weight must be fastened to a bamboo pipe to make it sink properly. I had a DIY on how to make bamboo caves bookmarked sometime in the past, and while it did look very cool, it seemed quite a bit of work. I think they had to bolt on aquarium safe 'lead' (zinc?) weights to make them stay put.
Depends on the type of bamboo, then. They don't all grow hundreds of feet tall, some stay quite small, but none of them are fully aquatic. I'd look into the individual needs of bamboo plants online, and find the one most suited to the environment you're looking to put them in.
just a little warning some bamboo contains cyanide (poss sp) not enough to do damage to us humans but live plants might release it into the water and also i thought you had to varnish dead peices?
wow cool idea if you could pull it off but i dont think bamboo is suitable for a fish tank as true bamboo cannot grow in standing water.
Also according to my dad who was a soldier in borneo, bamboo that has had its roots flooded can actually explode, i dont no whether this is right or not ,(my dads a bit batty) but something to look into.
As an afterthought have you looked if there is a true aquatic plant that looks like bamboo?
try this, it may helpamerican bamboo society