I've spilled soda on my keyboard more than once....yea...more like somewhere in the neighborhood of 8-9 times or so in the 3 years i've owned it..Hey, okay, im clumsy, and a stoner. And onto of that i'm just naturally lazy. So I dont like lifting my hand more than a few inches off of my desk when reaching for stuff -_-.
Really though, one time I spilled a whole can of coke on it and it stopped working all together. I had an old keyboard as backup, so I hooked that sucker up for a while, but after about a month my old keyboard began to work once more.
..Not a whole lot to do with the topic at hand, but in my experience, spilling liquid on a keyboard, eight times out of nine, it will be fine. ..That sixth time, you've got to worry about. But thats it.