Knowing about VAX wet/dry is one thing (I don't but I did own one)
Knowing about waterlogged electric motors is another thing (I don't I keep my motors dry)
There's a chance that the motor has become destroyed as the water acted as a conductor and supplied live mains voltage to places it should not have got to. There's also a chance that residual water inside the motor is still causing a short to earth and making the house circuit breaker trip.
If it were my motor I would strip it down as much as possible - swing it about to use centrifugal force to clear out as much water as possible and then leave it in the company of a fan heater on low heat - or just a regular fan on fast blow for as long as I could - couple of days or even longer.
If after this time it's still not working - then the chances are that the motor is properly broken.
Peccavi
February 2010