lol @ gps!

I had this last year, and let it get too dry late in the season, so it eventually died.

I didn't keep mine in water at all times, but set it in a bowl of water when it began to show signs of dryness.

Mine was on my sunporch with direct sun for a large part of the day, and lots of 'daytime warmth' I'll call it, as some of the nights were cool, which didn't seem to affect the plant.

I had bought mine in February, I think, and it lived and grew nicely until I'd forgotten to water it when I brought it indoors during the winter.

I've read where it needs bright but indirect light. Temp 20-22 ideal, will tolerate 14C-30C. Flowers last 10 weeks and it flowers 50 wks out of the year.
I have mine in a saucer of water too, not confident enough to remember to water it almost every day.

My mikado plant is dying despite my watering. Is it possible to revive it?

Never had any luck with these. I think if you can successfully grow Venus' Flytrap you could grow these. Never had any luck with those either until recently. I took an empty glass pickle jar (with out the lid) put some small rocks in the bottom maybe about 1/2 -3/4 of an inch, and just dropped the pot with the almost dead flytrap in the centre. Kept the water just to the top of the rocks. It's been about 2 and a half months and it's doing fantastic. It flowered, and has at least 3 or 4 fully developed mouths with many more new ones. It's in bright light most of the day and gets some direct sun. I'm almost certain this should work for your mikado. You've got nothing to lose if you want to give it a try!