I am glad someone has long-term use experience and verified that it works. My experiment with the submerged HOB is still running strong after a month; in fact, it's a lot quieter than hanging outside. If you examine the HOB motors, they look identical with powerhead motors, so I am sure they came out of the same factory, just packaged for different use. HOT filters which use the same motors are very popular in Asian countries where space is a preimium. HOT motors get moist and splashed all day long and they sure have safety issue.I used the motor from a hob as a power head and it was submerged for 2 or 3 years and it still runs the same today. the box said not to (liability reasons I'm sure) but i did it anyway because the motor was potted and there for completely sealed. I say its perfectly fine but make sure to check if its sealed. if you think that's stupid that's fine, but it worked for me. you can check my paludarium log for pictures
If you are concerned with electrocuting, you ought to be concerned about adjusting your submerged heaters or power heads underwater. Once my Flowerhorn cichlid cracked my submerged heater for days before I discovered that the water had gone cold.