OK - I pulled off the top of the deck lamp junction box and isolated the wires going directly to the underwater bulb (recall that turning it on trips the GFI, which tests to be working correctly.
Between the two leads to the bulb (green and black) there is continuity. Between each of the individual leads and the pool ground (electrical junction box) there is also continuity. I think this is expected from the green (ground) lead --- but I'm guessing the fact that the black lamp lead is also grounded is what's causing the GFI to trip.
Is this right?
What's the next step in repair? Pulling the wire to the niche and replacing --- or is pulling the lamp housing up the surface for inspection next?
Thanks for ideas?