I have a friend that has a 1987 Evinrude 90 hp E90TLCUR. He had a problem with it overheating so we replaced the water pump, thermostats and the relief valves. It now seems to cool, but every once in a while his overheat alarm will go off (constant alarm, not intermittent), and it not consistant, it happens sometimes at full throttle, and sometimes at idle.
The water pump was complete when we replaced it, it hadn't come apart and plugged up the water passages.
Could this be caused by the temperature switch? or what else?