I am assuming you are a physician ditchdoc and know a hell of a lot more about medicine than I do, but I will explain my rationale nontheless.
There are a few cases of rhabdo in near drowning patients in the literature. Enough that its listed as a cause of rhabdo in some sources. If there was foul play as that OP originally suggested, such as child abuse, then one would have further reasoning to consider rhabdo in a differential. He mentioned no head trauma, but could there possibly have been other trauma? He did say no significant PMH, which makes it less likely I suppose.
My suggestion was: Is it possible that the child went into rhabdomyolysis from the near drowning incident? This would place the child at high risk for hyperkalemic arrythmias in the first few hours following the incident. Peak CPK levels would be at 24-72 hours, with potential acute renal failure or DIC in the days following? The OP said the child dies one day later, which leads me to believe it was not the AED shock, nor the original arrythmia that killed him. It would be interesting to hear the cause of death. A sad story for sure.
With respect to the questions of the OP, I suppose I should have addressed them directly. Below is an interesting article from emedicine about near drowning. They report Asystole (55%), V-tach/fib (29%), Bradycardia (16%) as the causes of cardiopulmonary arrest in a near drowning victim.
http://www.emedicine.com/emerg/topic744.htm I could not find any info about how long a typical child would be in Vfib before going to asystole.