I've never heard of it before, but I once dropped one of our little cordless landline phones in the washing-up water. I scooped it up again almost in the same action, shook it, patted it dry with a teatowel, opened up the battery compartment and took the batteries out, and once I was satisfied I had got it as dry as I could, I let it sit like that in a dry place overnight. The next day I put it all back together and it seemed none the worse for wear. That was a year ago at least, and it's still okay. I think I was lucky.

I wouldn't be so keen to do the same thing with a phone that had fallen in the toilet - especially if it was "after the event", so to speak.

EEEEEEEEEUUUUUWWWWWWW!!!!!!!!!!