[THEFERMANATOR]

When you had the lower unit off, what did the water tube look like? I have seen a few of them with messed up water feed tubes that would do this. Also retorque all of your head bolts. The longer leg isn't helping you, but shouldn't cause it to lose water unless you are trimming it really high. I know that the V-4 lower unit is known for cavitation issues though as I lost my 140 twice on my 19 angler because it would sometimes quit peeing. Put it on a 19 foot bowrider and had no more problems with it. Make sure you don't have anything under the hull that could be causing it to cavitate like a water pickup or transducer.