Since only 0.700 mol of \(\text{O}_2\) is available, which is less than 4.875 mol, \(\text{O}_2\) is the limiting reactant.
\(\boxed{\text{O}_2 \text{ is the limiting reactant}}\)
Step 4: Calculate the Moles of Water Produced
Using the limiting reactant (\(\text{O}_2\)), we calculate the moles of water produced. From the balanced equation, the mole ratio of \(\text{O}_2\) to \(\text{H}_2\text{O}\) is: