Hi. What made you replace the riser and manifold in the first place ? Just in case we are missing something? Did you put the right gasket in between the riser and manifold ? There are variations on water flow set ups, between raw and closed cooling usually.
I bought the engine that was a paperweight. Engine was rusted bad as well as the outside components. The risers and manifolds where full of rust and as a security i went ahead and replaced. The gaskets where bought according to volvo penta parts search engine. They are the metal fiber composite not the plastic ones that came with the Barr risers. Gaskets have the same dimensions as the manifold and riser holes. Here is everything that was changed in the water circulation area.
Impeller
Circulation pump
Thermostat (160)
Thermostat housing and gasket
Hoses from thermostat housing to manifolds
rubber components in outdrive (split outdrive in half and changed)
Temp sensor
Engine overheats at high rpms, the moment i reduce speed to about 15mph the temp slowly drops. At the time of testing i got it to 30mph when the alarm went off. I turned the engine off when the alarm went off. Waited 5 minutes and started the engine. At start up i felt around with my hand and it was indeed hot to the touch. I also squeezed the hoses going from the thermostat housing to the manifolds and they didn't feel like water was flowing. While at idle and someone at the helm i felt around and felt water moving inside the hoses and the temperature change (by feel) it wasn't that hot to the touch.