LED headlight and regulator voltage

I have a 2007 SMR 510 Euro 3 bike. I recently dunked my bike in a river during a river crossing. The headlight bulb exploded. I thought it was just because of the cold water, or something. Installed and LED bulb and it cuts out when I give it throttle. I checked the battery voltage and it's going up to 14.8 volts. I think the LED has a safety that's turning it off so it doesn't get damaged.

I've heard people say that it uses the resistance across the bulb to regulate the voltage. LED lights have way less resistance than regular bulbs. Anyone tried an LED light and had this happen? I'm going to go buy a regular bulb and try it. If it's still putting out 14.8 volts then I've gotta change the regulator.

I just plugged my old headlight back in and it still goes up to 14.7 volts. I think I fried the regulator when I dunked it in the river.

14.8 volts is not too high, certainly not high enough to cause problems. General rule - below 15v is ok. My bike (SWM 500) runs at 14.8v.
If the globe actually exploded (glass shattered) its more likely the cold water hitting hot glass, not a voltage issue.
Check the led rated voltage range.

Sounds like you have a high resistance to ground somewhere. Clean and lube all of your connections (dielectric grease or wd40).