I've owned several, no Revenges though.
I had one Montauk that was waterlogged. Some said it couldn't be saved but I did save her. She is still going today, 15 years later.
BW's are no more prone to transom rot than any other boat. Typically, you can tell by removing any mounting screw that is located below the water line. A transducer or speedo pitot tube mount is a perfect place to check. Remove the screw and look at what comes out. Water? Waterlogged shavings? You can also "knock" on the transom with your knuckles. It should sound like a solid core wood door.
Also, look at the splash well drains. any signs of weepage around them?
If the foam is saturated, it is going to be below the deck. Typically, this is not an issue unless the previous owner mounted something to the deck and did not seal it properly. Look for add on items mounted to the deck.
If you can see the boat in the water, a waterlogged hull will typically ride very low or, in other words, have excessive draft.
Even if it is waterlogged, it can be dried out, in my experience.