Hi Guys,
I also experienced the FBoD issue with my Nexus 7 (2nd gen), but after letting it charge for a few minutes, it is now booting up perfectly.
Still, I have some issues that I hope someone can help me with:
Last week my tab fell into a bucket of water, bad luck

, and half of it got submerged for about a second or so. It was still working fine by then and I was able to immediately switch it off. I dried it with a vacuum cleaner as much as possible and left it in a bag of rice for a few days. Now the only issues I have noticed so far are as follows:
1. The LED notification light always stays on (always white) even when the device is switched off. The light intensity changes from time to time while using the tab.
2. Upon initial boot-up, the widgets don't work, but when I remove and add them again to the home screen, then they work fine.
Other than that I can use my tab like before, my guess regarding the LED light is that something is still grounded or maybe some wiring got misaligned when I vacuumed it. I didn't disassemble anything yet though, but I doubt that the warranty will cover this so I am tempted to open it up. Just let me know your thoughts and suggestions please.
Thanks!
- Erwin