So, I stopped by the marina this afternoon to pick up another copy of the UBI. The UBI did say the water pump was in poor condition and the sea pump leaked. The manager of the service department actually saw it leaking (drip / drip) when he looked at the alternator last week.
The manager told me he's never seen a water pump sheer off the shaft. He told me the leaking usually indicates a bad seal caused by the O ring. Basically, he thought they provided enough information to me. There was nothing mentioned regarding imminent failure of the need to immediately replace the part.