done it once with fuel. I was wiring up the n2o with a pressure and throttle switch. Just testing the fuel flow/pressure for a couple seconds to make sure everything was hunky dory. figured i'd just crank it over to blow it out but even 2 batt's wouldn't do it. Had to pull the plugs and crank.
Seen several boats hydro-locked when I worked at a marina. No big damage usually, but these were mostly stock type setups. causes ranged from blown gaskets to log exhaust jets throwing it in reverse to slow down fast and shut it off only to have water surge back through.
Usually just a plug pulling ordeal, and maybe an oil change and gasket fix.
jd