Electric heaters are a lot more efficient than gas when not being used since there isn't a cold flue sucking the heat out. I've had them shut off for a week before and still had hot water when I drained them. If there's no water being used, I can't see how you would save much turning it off for a long weekend.
Exactly!
On that note, with a gas heater's flue losing so much heat up the chimney, there isn't much point to adding lots of insulation. Not true for an electric.
You can insulate the heck out of it, and reduce your standby losses even more.
If you haven't done this already, here are a few suggestions:
1) add heat traps to the pipes (or at least use dielectric unions, as the plastic transmits less heat than the direct pipe connection).
2) add pipe insulation to the first few feet of pipe (cold AND hot) attached to the heater, and seal it up well
3) add an insulation blanket (or do something yourself)
Insulate enough, and it won't really use a significant amount of heat sitting for a few weeks anyway, and you won't have to worry about breeding listeria (or iron-fixing bacteria that will rot your tank/pipes).