the twitch means the servo and motor get a touch of power. But since neither work, this most likely means they are not getting any signal from the receiver. I have had receivers light up but not function.
does your truck have the 2.4ghz radio, or the FM one? If it is the 2.4ghz radio, I would try re-binding the receiver to the radio. If the receiver did get wet, this wont help anything, but sometimes these receivers can glitch and need to be re-binded to the radio.
The receiver can be fried, but still have the BEC circuit working (the BEC takes power from the ESC to operate the receiver and power the steering servo)
It is possible to have a bad ESC prevent steering from working....but it is highly unlikely. Its much more likely that the receiver is either unbound, or fried.