Could it be the mode selector switch? A few people have had that go out and it has caused hard shifting problems. I suppose it could also cause the indicator lights to freak out a little bit because if the selector switch is going out it won't know what gear it's in.
The mode selector switch is mounted to the side of the transmission under the VX so it could have been effected by the water.
Edit: Nevermind, looks like Mav got you taken care of.
"The major difference between a thing that might go wrong and a thing that cannot possibly go wrong is that when a thing that cannot possibly go wrong goes wrong, it usually turns out to be impossible to get at or repair."
-Douglas Adams, Mostly Harmless