Since the surface contact area of the neck is much greater than the surface contact area of the primer, I'll go out on a limb and bet that the water got in through the neck. My next bet is that the primer was the major failure component, although a weak primer coupled with damp powder could also combine to cause a failure. When priming compound is wet, it will not explode. That's how they handle it safely in the factory; as a paste. Damp powder will still burn.