hi Glenn
I guess first then what type of engine? single phase CDI or 3 phase CDI? (912 ULS or 912 iS?) if we are talking about water in the coils both have no issue with any water on the stator, the single phase you might have caused corrosion or lost contact at the regulator. You should be able to troubleshoot that. On the injected ones it is similar problem and again look for issues at the connector blocks. If you used a pressure washer (should be avoided) this can wash off contact pins and create problems.
As for timing, nothing would change the timing except for physical damage to the trigger coils on the engine in the case of the single phase. The timing for the iS is done via the ECU so again it is unlikely that is an issue.
In the case of the single phase with the regulator mounted on the airframe, be sure that the ground has not been corroded or lost its connection back to the engine.
Cheers