Tom, don't panic. I found that I had left some fuel in a 4 stroke plane motor, and it looked the same way. I used some paint brush cleaner and just let the whole thing soak for a day or so. I tried everything else to cut the sluge, but what ever the stuff is that is in the brush cleaner was the only thing that would cut that muck out. If there was no water left in it the bearings should feel good after the cleaning, and be good to go again.
Mike