A couple of observations. If the battery was in the laptop when it took a bath, all kinds of a damage may have occurred that no amount of drying out can fix. Even if it survived the dunking, if the computer was powered up with excess moisture still inside, permanent damage may have occurred. If you feel that HD is still booting up, then I agree you should pull the drive, connect it to another computer, and copy off any critical data you want to save.
Also, hard drives are not
hermetically sealed - that is, they are NOT air tight. Rather they have a membrane seal that allows for air pressure equalization required by changes in atmospheric, altitude and thermal conditions while blocking contamination from dust and dirt. Moisture (in the form of humidity) IS transferred through the membrane and so hard drives are
not water tight. In fact, every hard drive has a "breather hole" for that purpose and most have a sticker warning the user not to cover the hole. HDs operated in a very high humidity environment can corrode the heads and platters. Underwater is pretty high humidity!
If this had happened yesterday, I would say to put the HD in a very warm and dry place, such as on top of an always-on appliance, with the breather hole facing up, for a couple weeks. That's assuming the dirt and soap scum from the bath water did not clog up the breather hole membrane. However, since this happened months ago, corrosion may already have started to do its thing.
Let's be thankful the kids did not pull in a device that plugs into the wall for power and count our blessings on that!