The mud problem is based on a paper recently published in the Creation Research Society Quarterly entitled “The Clay Consolidation Problem and Its Implications for Flood Geology Models” by Scott L. Dunn. The paper claims that it would take too long for the mud laid down during the Genesis Flood to turn to the rock we observe.
The key to his calculations is the coefficient of hydraulic conductivity which shows how fast water can be removed from solid material. The tenancy however for it to increase with particle size. This is one way in which he's assuming normal erosion conditions. However, the conditions of the Flood would have tended to erode out larger particles possibly increasing this factor.
Other factors involved in calculating the time of consolidation are also going to be factors such as pressure, temperature in the way sediment is being laid down. Not only would these factors have affected consolidation time but the original consistency of the material as well. The paper seems to be assuming present-day concentrations of material. During the Flood you would have frequently had conditions not only of saturation but super saturation. These factors would reduce the water-to-material ratio to start with. It also ignores the fact that currents during the flood would have caused the sediment to be laid down horizontally rather than vertically. This would have a major difference in consolidation time,
This is just a preliminary analysis of this paper and the problem that it offers. This problem is already being answered from various creationist sources. A complete evaluation of these factors from realistic models of Genesis Flood sedimentation will take time. However, the process of finding an answer has already begun.