If water in the boat was high enough to get up over that hole that vents the drive bellow chamber, then it goes into the drive bellow chamber and bathes the ujoints and gimbal, has no way out. May get thru the drive oil seal or may not, especially if the drive had not been turned yet. If you think the water got that high in the boat then I would want to pull the drive, that is the best practice in your situation.
