Right you are, serf. Though some of the logs are rotten, most are well preserved, judging by what I've read about underwater logging. Even in warm waters, most wood is well preserved.
But, being as the process is far from easy, and no public company has been successful, it is unlikely that CSHD/Ecowood will be any different.
Currently Triton Logging, a small private BC based company, is using the Sawfish, a remotely powered sub, to do extractions. It's a slow process. I believe this machine differs from the one that AQCI developed and used, till they went under.