I have a Yellow Bell in a large pot. We had several days with heavy rain. I poured off the water that was standing in the pot but the soil is saturated.
Let it dry out some before taking up watering again. You did the right thing by pouring off excess water. Can you take it under cover so it doesn't get more rain for a few days?
If you think it is a problem and it isn't drying out fast enough, a fan on low speed can help with air movement and drying.
Check soil moisture with your fingers, or a soil moisture meter is a beautiful tool. Wait to water until the meter shows in the lower moist range.
After the very cold storm that we had in Houston this year we cut down most of the yellow bells branches that seem to have damage. They are still not showing signs of flowers or new buds, but now we notice some small orange spots in the tree bark. Is it rust? What should we do?
You may have lost the plant, which is freeze sensitive. Rust is normally on the leaves and has smaller dots, so I don't think it is rust. The pattern looks like scale, but seems too large to be scale. There is a disease called nectria canker that has orange fruiting bodies. Here is info about it below. You may want to contact your local extension agent who can probably help.