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Isn't there some kind of water proofing spray you can put on the circuits? I guess you'd still need some way to protect the batteries, but I think it is doable.

"conformal coating" is the thing to google, though that only protects the PCB and not the tricky bits. You'd still need to figure out a way to waterproof connectors and buttons and moving bits like that.

That's what backing up the design is for. ;-)

The spare board will solve this.