Yes,
I'd love to know where the nutrients go. My understanding is that floating FA is 'dead' already and therefore this is why it is floating. If the nutrients are tied up in the strands then I don't know if those nutrients can be released back into the pond even if the FA is dead. (whether wet and dead in the water or dry and dead on the land)

So if your FA lays on the rocks, is dead but then the water level comes up and the FA goes back to floating in the shallows are the nutrients still going back in the pond? Maybe it depends on how dried out the dead FA strands are?