
Because the dropouts are below the chainstay where the cable stop is, the gear selection chain runs upwards out of the hub’s axle. I assume it’s intended to run slightly downwards or at least horizontally. I’m concerned that if I get caught in a downpour then water might get into the internals of the hub through the axle, either carried down the chain like a wick, or probably more likely by pooling inside the nut cover. The cover is only open where the chain comes out, so if water gets in that upward facing opening it can’t drip out again and has nowhere to go except into the axle.
Is this a realistic concern? I have a few ideas on how I might fix it: simplest would be getting rid of the nut cover, though that would leave the axle vulnerable to direct splashes and water running down the chain. Or I could drill a hole in the lowest sitting part of the cover to let water out. Or I could try to mount the cable stop lower than the axle, either by hanging some sort of support from the chainstay or using an SA fulcrum lever.
The fulcrum lever seems like the best solution, but I’m not sure if it will push the guide nut too far out on the axle for it to securely hold the wheel on.

It looks like there are a couple of spare mm of thread, although the inside of the nut is threaded even around the edges of the holes. I’m not sure how wide the fulcrum lever is.
Can anyone advise? Am I overthinking this?