That's a mystery, because there are many variables.
First, you have to know that the water is able to conduct electricity, especially if it has additives in it. Second, the coolant has to effectively short specific areas of a VC/mobo in order to make damage: it could throw off a voltage regulator, and cause everything to fry, or mix a bunch of signals together, in which case you only see odd behavior. There are many other things that can happen.
What's important is cleaning it properly, so that the leak or its residue doesn't do any more damage, when you start it backup.
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