probable culprit
That water shouldn't be there, and probably indicates a leak. It may be that the water hose coming off your dripless packing gland is the culprit. (This was the case on my 410 originally.) Try this test: watch the end of that hose while someone puts the transmission in reverse and revs the engine. If water spurts out the tube, you have a problem. The quick fix is to install a stopper at the end of the hose, which is what my dealer did, but a better idea is to splice the hose into the raw water channel on your cooling system. I had my mechanic do this, but am told that someone with minimal mechanical skills could do it himself. Whatever you do, do it quick, because if it's salt water getting on your engine you're going to have rust problems. Within the first month that I owned my 410 I already had rust on the aft starboard engine-mount bolt as a result of this problem. By the way, if you poke a hole in that pan you will potentially allow oil to flow to the bilge. Not only will this screw up your bilge, making it almost impossible to clean, but it will buy you a load of legal trouble as well as the distain of fellow boaters who will have to put up with your oil in their marinas and waterways.