I had the constant engine alarm beeeeeeep on my Mercury Opti-max 135 at lower RPMS. I read a lot on here about others with this issue nobody really seemed to have fixed it. I have solved it on mine, I am not promising that this is always the cure, but i replaced the t-stats, and the poppet valve, the alarm issue is gone. The poppet kit was cheap, the only issue was the diaphram with the new kit was very weak, I had to seal it in there to prevent weeping out of the side of the motor. I went all day and had no alarm sound. I just wanted to follow up. I am not a tech.....but nobody had any ideas for me, the marina told me to drop off the boat they would look at it. That usually costs me a lot. The must have very expensive eyes
I did it in a couple of hours, make sure to check and be sure you have no leaks, it can and will fill your cowl and you will ruin your engine!