The Kanzaki KM2P-1, the KM2A and KM3A specifically are cone clutch transmissions and do not have oil pumps in them. When the engine is running, even in neutral, the bearings and gears are lubricated by the lower gears dipping into the oil in the bottom of the transmission case and moving a small amount of oil up to the top gears and bearings. When the prop is freewheeling in neutral, the gears do not turn. The lower shaft and cone driver (but not the clutch) turns and the lower shaft bearings turn. The lower bearings have essentially no load on them and are lubricated by dipping the lowest rolling element into the oil level in the transmission case. It is crucial to have the oil level correct. Freewheeling in neutral is OK on these transmissions IF the oil level is correct.
If put into reverse, the cone clutches engage and lock the prop; no problem, as Steve says.
If put into forward while sailing with the engine off, the forward cone clutch will not engage fully because it is being driven by the prop shaft and not the engine gear. It will slip and eventually wear out. There are some other transmissions that are the same and there are some that are very different from these; I am not familiar with any but the specific ones that are listed above. The post was a question about one of the listed transmissions.