Re: Alarm always on
Interesting... I have been fighting exactly the same thing on my 1994 175-HP Johnson.
At this point I am 99% convinced the oil level sender in the oil resevoir is bad and have a new one on order.
In my case, disconnecting the leads to the high temp sensors (tow - one for each head) and the restricted fuel flow sensor would not silence the horn, but disconnecting the leads to the oil pickup did the trick.
The leads in my engine to that sensor are a pair of wires (brown and black) with simple push-on connectors under the cowling. With the key in the "run" position (but not running), disconnec the brown wire and see what happens. In my case, the horn stopped.
Good luck!