The Spence edit does a decent job of getting through the underwater Otah Gungah sequence very quickly. It felt a bit rushed, but I also feel there is no “clean” way to get through it without serious cuts. I would also remove all the slobbering that Spence did not cut.
The sea monster Chase was also removed, but that could be reintegrated without the Jar Jar dialogue. Besides, the monster chase gives us decent early action in the midst of an excess of dialogue.