While the circuit is intact, and supplied with electricity, i.e not turned off, any bulb in the circuit intact and connected, will light.. the Titanic generator needed steam to turn it, and as long as it turned it produced electricity, at current according to good old ohms law... and electromagnetic theory - its how electricity is made.. if one spins a car alternator, even underwater, it will produce electricity, not for very long, since the water reacts with the electricity, and will cause failure.. if you look at a car alternator, as an example, its open to the elements , one cant insulate all its parts from the weather, and yet car alternators survive the heaviest inrushes of water into the engine bay.. and keep on working.. as far as loading is concerned, the ability of the generator to supply any circuits connected, like lights, depends on what safety circuits and how they operated.. for example if the safety circuit was dependent on current load, but didn't receive enough current to cause it to trip out, then it wouldn't, and sea water being conductive would cause dissipation of current, and so some lights might be bright, and others would begin to dim, depending on the quality of the insulation.. since a reduction of supply to the circuit, causes that.. Electricity wants to take the shortest path to ground, and will share paths to enable that.. you for example..
Water, even sea water isnt always the shortest path to ground, And for the Titanic the hull was.. When the steam supply stops, but the generator is still connected, then it will be the time it takes to stop turning, and the load still connected, that will determine how bright any remaining lamps will work... so.. even though the ship is breaking in two.. its still possible as that happens that some circuits are still intact, and the generator is still turning and supplying them until either the circuit fails or the generator stops.. a fuse wont blow unless its a short circuit. A current trip wont trip, unless its current is exceeded, a contactor wont drop out unless its not getting electricity to its coil, and my knowledge of those on the Titanic is that those were manual operation.. not automatic? . so any circuit that isn't short circuit, can still be receiving electricity.. even as the generator starts to slow down.. ? Remember the days of bicycle dynamo`s? as long as the wheel turns, the light will light. ?