I have the same arrangement in my 2011 2300. I was concerned about it at first for the same reason; didn't like the idea of possible long term effects from road spray etc. It definitely would have been nice if FR had solved the problem in the factory! I thought about trying to fabricate a somewhat waterproof cover for the cable termination area but with all the cables coming and going there was no straightforward solution.
In the end I just marked it down as a yearly maintenance item to check that whole area, making sure all the connections are clean and tight.