Tropical waterlilies tend to put their primary "feeder" roots very shallow. The larger, thicker roots that they will put down deeper are what I'd call "anchor roots. But when we limit their growth area by putting them in pots, you will eventually find roots filling the entire pots.
Many of the fertilizers used will never completely dissolve, as the actual nutrients are coating the surface of a carrier material. Others may have a coating on the nutrients that will dissolve at different rates, depending upon time or water temp. A good deal of what may look like unused fertilizer in a pot has actually done it's job and what remains is inert.
A manufacture's rep. explained to me that the fertilizer you place in the pot will tend to rise towards the surface. You put it down deep, to avoid too much getting to the feeder roots at once, "burning" the plant.
Tropicals will often produce those corms you mentioned as a method of reproduction. As far as I know, there's only one waterlily that actually reproduces by sending out "runners," and that would be N. Mexicana, a hardy waterlily.
Just some of my opinions, and I have been wrong before!
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Mike S.
Spring Hill, FL