Hmm... sometimes.
I have more than one phobia.
I'm afraid of spiders, and I'm afraid of water.
Let me explain.
When I see a spider in a game... my reaction is to torture said enemy, and draw out their death as much as possible for the maximum catharsis value. Case in point: Skyrim... I deliberately use low-level spells and weapons against them no matter how high level I (and they) get, unless I really have to. Why? Because I want to make the fucking things suffer. No, I'm not and never have been terrified of spiders in games, or monsters meant to resemble spiders in games...
but in real life? I can't get away from the fuckers fast enough. And those trees in India or Australia or wherever where MILLIONS of them climbed up to and essentially made spider mega-cities when the area flooded...
uh... yeah... BURN THOSE TO THE GROUND I SAY!
Incidentally, I'm also very good at taking simple Halloween prop webbing, and spreading over anything to make it look ancient and creepy. And I also liked main continuity Spider-man comics until Linkara pointed out the biggest problem with that character: he never grows up, he never really learns anything, and just finds a new way to whine about everything.
Ultimate Spider-man (before he died, obviously), on the other hand, I still enjoy because he DOES change... not in all areas, but he does face a lot of nasty consequences for not growing up quite fast enough... to the point where he develops a very believable case of suicidal depression.
Anyway...
back on topic.
My fear of water, however... has yet to affect me in games at all... or in any medium for that matter.
Why?
Because, as far as I know, there are very few triggers for that particular fear.
Namely, I have to have water apparently surrounding my head... like I would if I were washing my hair in the shower, or trying to dive into a pool... or something like that.
It isn't enough to just dump water on my head, there has to be enough water for it to flowing past or, engulf my head in order to trigger my phobic response. Which is largely very erratic mouth-breathing and shivering. (with spiders... I tend to reach for the nearest can of Raid... or a broom... or a lighter... and seek to kill every spider in the area and destroy their homes... or else... lacking those items, I retreat to somewhere seriously lacking in the spider department)
And yes, showering is a huge pain in the ass for this very reason. I still take showers of course... but I've managed to find ways to control my fear, and get through it.
But anyway... since games don't yet have the capability to simulate the feeling of being surrounded by water to the degrees that I mentioned... that particular phobia hasn't affected me at all.