I'm throwing this in this thread for future builders.
it was the NICE (pricy) good both sides Birch plywood from HD
The birch plywood I see on Home Depot's site uses something labeled PureBond as an adhesive. It's soy-powder based. This is not an exterior grade plywood. I'm convinced this problem wouldn't happen with ACX or CDX (exterior grade) plywood. (I prefer the ACX since it has less voids.)
I seal the inside of my floors with a coat of thinned polyurethane oil based varnish followed by an unthinned coat. (The walls are over-butted to the edge of the floor and glued in place.) In my galleys, I coat the floor with two coats of epoxy (and up the side walls about 6"). I do this because it's a kitchen and water does spill plus we've got a seven gallon water container that occasionally leaks a bit. Any water on the epoxy puddles like rain on a waxed car hood.
Primer/paint is a surface coat that works well on the side of a house but not where moisture can build up. If the wood moves from moisture––and it does––the paint can't match the expansion contraction and you'll get cracks where moisture enters.
A good grade of exterior plywood, well sealed with the edges unexposed to moisture should last for many-many years.
I apologize if this post sounds critical, it's not my intent. All our builds are learning experiences. It's important we share what we learn here.
Cheers,
Tony