Your right, it is Thermostatic controlled. the water that is hot goes out the Exhaust past the Prop on this Motor.
then when it gets up to fully heated then it discharges out the ports.
I found in my manual that it Only pumps cold water as needed, it circulates as does a Car cooling system. when it reaches the temperature that it is set for then it pumps cold water.
I just bought the Boat & Motor at the End of April
and had it out once, My Brother said the Over Heat
Light came on then went out. I was Changing Spark
Plugs and ran it after, that's when I noticed no water
coming out Anywhere.
I have a 1969 Johnson V115 Hydro Electric Outboard, I hooked it
up to My water hose and started the Motor, it runs Great
but there is No water coming out the Water Discharge.
Does it only pump the water when it heats up? Is there
something wrong with the pump?