The link includes a pretty good animated video of how it will be sunk. I went by it Saturday on my way out, and they have cut a lot of holes in her sides. You can see all the way through the hull in several places.
http://www.pensacolanewsjournal.com/apps/pbcs.dll/article?AID=/20060418/NEWS01/60418004
http://www.pensacolanewsjournal.com/apps/pbcs.dll/article?AID=/20060418/NEWS01/60418004