‘99 mercury 40 hp 2 stroke overheat alarm sounds after 5 mins of running. Has yet to sound when in gear WOT. Typically sounds only in idle after warmed up. Telltale has water coming out. I have replaced impeller (including housing/gaskets), tested and confirmed thermostat opens. Removed thermostat and ran, alarm sounded same as usual. Water comes out from top cylinder brass plug and bottom plug when tested. Will shoot block with infrared temp gun soon to confirm temp. What am I missing?