MSD distributor, can this be cleaned up

uhh... what happened there? it looks like it was underwater.

more pics would help ascertain the damage and give a better idea of the situation.
Yes it looks like it got wet but not underwater. The car came from the coastal area of California. I had the distributor out and the rest of it looked like it was fairly new except for the area that you see in the picture. I am clueless what happened.