the rust on the outside of the chain is presumably what is troubling you, but there could also be rust on the inside of the chain, which would be more of a problem.
In addition to an increased risk of breaking (could be ideal conditions to promote hydrogen cracking....?) the chain might wear out double-quick having been 'treated'.
The reason the chain went rusty in the first place is some combination of the service conditions (road salt probably) and the lubricant (some crap that is barely OK for summer use I expect). Expect a repeat performance (but even quicker) unless you do something different.
It is an interesting experiment (and I'm keen to hear how it goes) but it is not one that I think I'd spend the time doing.
cheers