If your particular Ab-target interactions are partly based on the ionic strength of the solutions you use (which, in IHC theory, it often is), then, you want to have full control of the ionic strength of your solutions. Thus de-ionized water will be the better choice. Although distilled water might be OK in your situation, you won't know until you try it. It's a gamble though...
De-ionized water should be always used in IHC, particularly if your IHC results must be compared with qualitative or semi-quantitative approaches. However, in other cases, distilled water can be used if de-ionized one is not available, always considering this aspect during microscope observation.
We have used both for IHC. Initially our provider was DAKO, and their advisers told us to use deionized water. Nowadays we have ROCHE equipment and work with distilled water.
I have used both distilled & deionized water. The pH of the buffer is important. If your positive and negative control slides are working well with distilled water then distilled water is a good alternative.