This is from the Git-rot website:
"GIT"-ROT will eventually cure in damp wood. However, "GIT"-ROT will not displace water. So wet wood cannot be fully saturated. Any reduction in the amount of "GIT"-ROT simply reduces ultimate strength. Dry the affected area as much as possible. Soaking with acetone will assist drying; however, be cautious of fire hazard. CAUTION: Reaction between part A and B will produce heat. Do not use in high temperatures. Avoid all external additional heat sources."
Depends on how wet it is but personally I would probably grind the wood out with a chain saw and fill it with Seacast or a similar product before I would go through the trouble of trying to dry it just to use git rot.
V20 forum member SkunkBoat has some excellent YouTube videos of how he did his..
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