That would cost me ~$40 every time I splashed through some water. No thanks.
I've had axles submerged a number of times, changed the diff fluids several months later, and not had any water inside. If no diff oil is leaking out through the bottom or through the axles, then no water can get in from those points either. The only other route in/out of the diff is the breather tube. If it's in good shape and tight, and extended to well above any foreseeable water line, then water won't get it...period.
Also, some water getting in isn't necessarily going to ruin anything, even if it's left in for a while. One of my fun cars, a Volvo I just got rid of, was making over 400hp on the unmodified automatic transmission. The trans cooler went through the radiator. I found out when removing the engine and trans for another engine swap that the trans cooler had failed at the radiator, and my transmission was about 70% water/coolant instead of ATF. I had driven back and forth to New Mexico with it like that (I recall the occasion when it probably blew), and it was like that for probably a few months of driving under high boost.
If an OEM transmission is going to survive with mostly water insteaf of ATF, then one solid ring and pinion gear will survive a little bit of driving, too.