First, I don't think one can call something the "correct definition". Different definitions will be suitable for different authors in different circumstances.
One reasonable definition of a topological submersion (which I pulled from F. Lin, "A Morse-Bott approach to monopole Floer
homology and the Triangulation conjecture") is as follows.
Consider a pointed topological space $(Q,q_0)$, let $\pi: S \to Q$ be a continuous map and consider $S_0 \subset \pi^{-1}(q_0).$ We say that $\pi$ is a topological submersion along $S_0$ if for every $s_0 \in S_0$ we can find a neighborhood $U \subset S$ and a neighborhood $Q' \subset Q$ of $q_0$ with a homeomorphism $(U \cap S_0) \times Q' \to U$ commuting with $\pi$.
(This is quite similar to the suggestion in Tom Goodwillie's answer in the question you linked.) Then one would say that $\pi$ is a topological submersion if it is a topological submersion with respect to any choice of $q_0$ and with $S_0 = \pi^{-1}(q_0)$. This is more or less the statement that "locally in the domain and codomain, $\pi$ is a fiber bundle projection." This, to me, is the topological essence in what a submersion is. To further back this definition up, a CAT submersion (where CAT = TOP, PL, DIFF) is defined in Kirby-Siebenmann to be a map $f: X \to Y$ such that near every point $x \in X$, there is a neighborhood $U$ with $f(U)$ open and $U \to f(U)$ isomorphic as a map in CAT to the projection map of a product (aka, the map is locally a trivial fiber bundle). This is precisely Lin's definition for all $q_0$ and $S_0 = \pi^{-1}(q_0)$. If you're interested in the notion of transversality, Kirby-Siebenmann have a definition of that, though it's somewhat complicated and uses the notion of microbundles.
The definition you give, that through every point $x \in X$ there is a local section of the map with $x$ in its image, is not equivalent (though of course Lin and Kirby-Siebenmann's definitions imply it). The map $f: \Bbb R^2 \to \Bbb R$, $f(x,y) = xy$, satisfies your definition; a section passing through $(x_0, y_0)$ with $y_0 \neq 0$ is given by $s(t) = (t/y_0,y_0)$, and similarly for $x_0 \neq 0$; for $(x_0,y_0) = (0,0)$ take $s(t) = \text{sgn}(t)(\sqrt{|t|},\sqrt{|t|})$. But $f$ is not locally a fiber bundle projection near $(0,0)$.
Personally, I don't think that example deserves to be a topological submersion. But to even out my discussion, I'll point out that even in my definition of topological submersion, the preimage of a point under a topological submersion of manifolds doesn't need to be a manifold. To prove this, you just need an example of a topological space that's not a manifold $X$ and a manifold $M$ such that $M \times X$ is a topological manifold. These are reasonably abundant; there are examples with $M = \Bbb R$ and $M \times X = \Bbb R^4$.
Consider a pointed topological space $(Q,q_0)$, let $\pi: S \to Q$ be a continuous map and consider $S_0 \subset \pi^{-1}(q_0).$ We say that $\pi$ is a topological submersion along $S_0$ if for every $s_0 \in S_0$ we can find a neighborhood $U \subset S$ and a neighborhood $Q' \subset Q$ of $q_0$ with a homeomorphism $(U \cap S_0) \times Q' \to U$ commuting with $\pi$.
– Aug 20 '16 at 17:24