Was the board powered up when it got wet? Was the water pure D I or did it have conductive aditives of any kind?
If it had power to it then there is no way to know what micro eloctromigration damage might have happened to a sensitive componnent. The base PCB itself would not be damaged but some of the microcircuitry may have been. Also, if the water was not totally pure and you have dried it but not cleaned it to take away any small but potentially harmfull residues you may still have some unknown high restance shorts bleeding signal to unwanted paths.