Probably yes in connected fractures or transiently opened pore space, especially where a transform fault admits circulating seawater; a uniform water-filled porous layer several kilometres thick is not guaranteed. Porosity and permeability of a porous medium generally decrease as cracks close or seal, while ongoing faulting can reopen pathways. Fluid can occur at high pressure and temperature, including a supercritical state; it need not resemble cold surface water.
Several complementary tests address presence and origin:
No one anomaly uniquely identifies water. Seismic velocity can also reflect cracks, composition and temperature; electrical conductivity can reflect melt or conductive minerals. Serpentinization demonstrates incorporation of water into minerals, which must be distinguished from fluid currently occupying pore space. At an oceanic transform fault, an external seawater supply is the natural first hypothesis, but isotope ratios and chemical budgets can test contributions from deep fluids rather than presuming the source. A research example of coupled deformation and hydrothermal alteration is Mass transfer and fluid flow during detachment faulting and development of an oceanic core complex, Atlantis Massif by Chiara Boschi and others; a detachment system illustrates the methods without proving identical flow at every transform fault.