We leave the outboard(s) down in the water when mooring here on Lake Shasta.
The water here doesn't freeze, so it has enough warmth to keep any water in the lower leg from freezing.
It is thought that if you tilt one up, while the boat is still in the water, any trapped water could then freeze when exposed to sub-freezing air, which might crack the lower unit housing, if it were unable to escape.
When on the trailer, or when the boat is on some form of lift, so the motor can be lowered with the leg vertical, but out of the water, it is felt that the lower leg and whole motor, really, drains throughly enough that there is no danger of the freezing or cracking of the motor or lower unit.
I'd rather tilt the motor up out of the water to prevent algae growth on the lower unit, but the perceived danger to the lower unit stops me from doing so.
One really ought to do a test to see if there is any trapped water in the tilted up unit to see if there is any real danger there.
I'll bet that sounds pretty confusing, no?
Joe :teeth :thup