This shot is from the starboard stern side. A couple of inches out of frame to the left is the engine saltwater intake. The first shot it at the same elevation (just at the point where the bilge of the boat curves down to the skeg) about 6" to 12" to the right.
I just never expected so many colors and donn't know what they mean. The black spots under the hole are solid so the blackness itself may not be evidence of rot.