Aye it does sound like there's water where there shouldnt be, and i think you did the right thing taking the battery off.

I would just leave it for a while somewhere warm, if the bike is outside try and leave it in the sun, if indoors i would put a fan heater near it to speed things up a bit.

The bike doesn't have an ignition relay so its sounds like the water has got into the back of the ignition (main) switch so if you can it might be worth removing that to let the air at it. There is however a fuel injection relay and if that has water in it it could backfeed the gnion via the water short, so i'd take the seat off while the bike is drying out too, and maybe disconnect the plugs to the relays too. Also if you have some WD40 or similar water displacement spray it cant hurt to give all the electrical parts you can get to a squirt.

Hope thats some help