I dive Great Lakes (cold, 4-8c) and get quite a bit of condensation on the inhale loop and the head area. We were taught to remove the head so it can dry after the dive. Condensation is possible on the cell but not likely. Even inverted it would take a lot more condensation than I've yet to see to cause any issues, though it's not impossible. A flooded can would be more of an issue if inverting.
I stand it up for travel because it's less work and it has a nice stable stand. Laying it down it wobbles side to side.