engine protection.........
O.K......right now, you know you have no spark. But I'd worry with that later. For the moment, I'd worry about protecting the engine so that it doesn't seize up on you. I assume you pulled the plugs and pumped out all the water. Now, put the plugs back in and spin it over for 20 seconds. Wait for 10 minutes, spin it over again for 20 seconds. Do this several times. What you need to do is make sure you dry the engine.
Then, take your plugs back out, pour a cap full of alcohol in each cylinder. Alcohol displaces water. Put the plugs back in, the wires on the grounding straps, then turn it over again for a few times.
Now, take the plugs back out and if you have foggin spray, use it, or just some of your 2-cycle oil. Spray lithium grease will work good too.
Now, your electricals.........if your seal didn't hold the water out, you may have blown the mpem.
Check all your fuses. Make sure they are good. Spray WD-40 over everything you have electric. It too displaces water. Your magneto is suppose to be sealed. But I have seen many of them, that were not sealed and got mud in them, so after you've exhausted all other possibilities, then pull your mag off.
But saving your engine should come first. I would also spin it over daily, just to make sure it isn't locked up on you.............:cheers: