That's certainly one of the suggestions put forward regarding the bowel and runners' trots, Hilly. At the moment the theory is out of favour because cyclists and other endurance athletes, who divert blood to the muscles just as much as runners do, don't have an equivalent syndrome.
Blood flow to the kidneys, which determines how much urine we produce, is preserved quite well during exertion - has to be, otherwise our body chemistry would become dangerously unbalanced. There are small but important changes in the urine concentrating system as an adaptive mechanism. This includes responding to fluid loss in sweat and breath by producing smaller volumes of more concentrated urine, and since a normal, healthy bladder reacts mainly to the volume of urine in it we don't need to pee as often.
Unless, of course, we've got a Y-chromosome. Personally, I think this pissing-on-walls thing that men have is the equivalent of dogs leaving a calling card on every lamppost and nothing to do with how much is in their bladders. Anyone got a better explanation?
Cheers, V-rap.