Ian, Jim,
I recall looking for signs of the vent holes as I uncrated and assembled Sherpa, and concluded the rear triangle's holes are internal to the joints, rather than filled (i.e. seat stays vent into seat tube, chainstays vent into BB). The fork blades vent on their upper-inside faces, just below the fork crown, where it would be difficult for water to enter unless submerged (see:
http://www.thorncycles.co.uk/forums/index.php?topic=3697.msg17393#msg17393 ) Once submerged with the air displaced, it's not coming out of the fork blades unless the bike is laid on its side or inverted. Fenders mask the entry, but it seems unlikely water could get around the corner in normal use even without fenders.
I don't recall seeing vent holes in the head tube, and suspect they might be covered by the headset cup collars. I have to admit I was focused on getting the bike together at the time.
I have heard some Nomad and Raven owners describe a blocking plate in the lower end of the seat tube, above the BB.
I agree, Thorn's frame sealing is a very clever, wonderful, largely unappreciated feature. I always had to plug the holes on my other bikes with kneaded beeswax, so this was a nice bonus.
The Shimano external bottom bracket has a nice sleeved tube connecting the bearing units, and this should help prevent water entry to the frame from the sides.
I do believe leaving the bike upright when parked does wonders to prevent the intrusion of water via the bearings. Before I had my Click-Stand, I always covered the saddle with a dry sack that extended low enough to buckle around the underside of the top tube-seat tube junction; this prevented water entry around the seatpost, even in Belgium's torrential rains. The crankarm spider shielded the BB to a degree, and grease in the headset helped there, but upright is definitely better to prevent rainwater entry.
I'll soon be removing Sherpa's seatpost so I can fit my custom-made spoke carrier to the inside of the post and I'll take another look for vent holes then. Meanwhile, I have generously greased my seatpost with Phil Wood grease, and the seatpost-mounted alarm also serves as a shield against the direct entry of water into the seatpost top (it clears the seattube top by a couple millimeters). In the past, I've had great luck fitting a nitrile o-ring to the seatpost, pressing it down against the top of the seatpost collar with just a smidgen of grease between it and the seat tube collar/seat tube top. It is unobtrusive, nearly invisible and amazingly effective. It also works a treat for helping to "seal" quill handlebar stems and prevent direct entry of water.
Best,
Dan.