Yea, the padding in the tri shorts is practically non-existent so you don't notice the water too much.
Otherwise, they are made to dry quickly.. but I have yet to have a pair dry on me during a race.
I have raced sprints- an Olympic- an Half Ironman... at no point in any of my races did my shorts dry out. At some point it went from being wet with water to being wet with sweat.
"Life is not a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather, to skid in broadside thoroughly used-up, totally worn out, and loudly proclaiming: WOW WHAT A RIDE!!!!"