Would a small leak in cold water pipe above electric water heater cause a short and result in no hot water? It is pooling in the two indentations on top of heater. Drips down opposite side of all electric connections. It's a new whirlpool. No hot water. Hitting reset button does nothing. Changed Lower heating element then thermostat. Still nothing. Both read bad on multi-meter. Heater is only two weeks old. Haven't had chance to fix the small leak yet.

Absolutely yes. Turn off the power and fix that leak, first. Then check all of the wiring by removing the wire nuts and drying out everything. Trace the wires from the top to the other connections. Here are some diagrams: https://dl.dropboxusercontent.com/u/8010163/AO-Smith-electric-water-heater-wiring-diagrams.pdf
https://dl.dropboxusercontent.com/u/8010163/Waterheater_Wiring.docx
The second document is best.

Have you checked for power reaching the elements or checked the breaker?

You definitely need to know if you have power going to this hot water heater, but if it's wet it would be dangerous to work on until it's dry. You should get familiar with using a meter and how to work on electrical things safely. You should never work on electrical appliances or devices without a meter to guide you. You cannot see electricity, and guessing about something that can kill you and/or burn down your house is very foolish.