Thoughts on the water/rust answer.
(1) Moisture would condense on the mobo IF it were significantly cooler than the ambient temperatures;
(2) Motherboards have very little material in them that will rust
(3) Even marginal case ventilation would prevent moisture buildup.
Is this system cooled by dry ice or other below ambient solution.
What dokk2 is saying makes sense to me. IF there is residual solderwave flux, the flux will tend to absord moisture and form a chalky residue. It probably wouldn't be visible when the board is new. Also, isn't flux slightly acidic (corrosive).
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