I can confirm it was Hele crossing, just south of Cullompton, where there is a river which has burst. The road is STILL flooded this evening, all fields around the line are flooded, with Hele being the low point of the line, there are currently tankers trying to drain water. Exeter panel this morning estimated it would be at least 24 hours at the minimum, and having viewed the water on my way home at 5pm, I would be amazed if it is clear tomorrow -- I have never seen so much water!
The last up train from Exeter was the 0823
XC▸ service to Man Pic, and the last down train was the first down XC to Newton Abbot (0907 from Exeter) which hit the water at 100mph and I believe this caused damage to the voyager.
The 0957 service from Exeter to London ran round the 'Southern' route, the 0840 London service ran empty back to Laira, and the 0849 London ran back as the 1013 Penzance service.
1056 to London then ran back as the 1119 Plymouth service and 1140 London ran back as the 1210 Penzance service.
There are photos of Hele crossing here taken at 1130am this morning: http://www.firstgreatwestern.co.uk/Content.aspx?id=3368
Further update as of 1730:
Flood after heavy rain has caused significant disruption to train services in the Devon area.
There are currently no train services running between Tiverton Parkway and Exeter due to severe flooding in the Cullompton area, caused by the significant rainfall earlier today. Trains from Devon and Cornwall are able to run as far as Exeter only, and services from London and the north can only run as far south as Tiverton. There is a frequent connecting bus service linking the two stations, but road conditions are very poor, and customers are advised their journey will be significantly disrupted and heavily delayed.
Customer are advised not to travel in the area.
Services will also be badly disrupted on Friday 31st October and customers are advised to check this web site before travelling.