I have never taken the keel of a 22 apart to know for sure, but I would think there would not be any coring in the keel. I say this based on how coring is typically done. With balsa core (which is what I believe was used in 1987-newer 22's, it typically comes in big sheets. The sheets are scored into small blocks (say 3" x 3") but they are all held together with a scrim. This is so the sheet can bend in complex curves. So you'd have a female hull mold, and I would think it would be built up with (after the gelcoat) resin and fiberglass to make the outer skin (this seems to me like it would include the tiny keel stub). Then once you had a flat outer skin, you'd lay in the coring sheet. Then perhaps some filler (depends) and then the top fiberglass/resin skin.
Besides the form factor (sheets) of typical coring, other reasons:
1) I can't see why they would go to the extra trouble to cut little pieces of core and put them in the keel stub. That's extra work/time for no particular reason. It's hard enough to make money in the boat building biz.
2) Core is generally used to make large flat surfaces more rigid. This is one reason why the C-Dory doesn't have to have big frames or stringers (although it does have the fake strakes, but those are more in the topsides). Decks on fiberglass sailboats are often cored for the same reason. But smaller areas - especially if they have inherent curves - are often not cored - they are plenty strong on their own due to their shape. So there'd be no need for core in the keel stub.
Of course production boat builders of all sorts have been known to do things that don't make sense, or cause eventual problems --- but not usually if it would cause them extra work and time.
I'll be interested to see if anyone knows for sure. I could very well be wrong and the keel stub is cored. I'm just guessing based on what I know and past experience (other boats; haven't take the keel apart in my 22)
One way you might find out: Many folks have posted photos of their boats in the mold when they were being built. You might be able to see. (But searching the photos is not all that easy.)
PS: But looky here, an album with photos of the 22's being built - nifty:
http://www.c-brats.com/modules.php?set_ ... _album.php
Here is one photo (although of course processes can change over the years) showing the core lying in the hull. You can see it is one continuous sheet of balsa. Can't see under it but as mentioned above, I doubt they were taking little pieces of balsa and stuffing them into the tiny keel (not that it wasn't a good question on your part).
PPS: On the other hand, there could potentially be a void in the keel space, and there could potentially be a gap in the glass that would allow moisture into the core. So as always, I'd say best to repair damage ASAP and also to check for moisture in the hull (as I would do on any cored boat).