1999 optimax 135 problems

Hey all new to the optimax section and Im having a problem that I need some help on. This past weekend we were out fishing and problems started. I'll try and list for you in order of which these happened. First about 1000 yards off shore buzzer goes off for over heating, look and no water coming out of pee hole figured water pump or clog??? limp back and on the way back reved it and she starts circulating again...good problem solved or we thought. We get going to do some fishing and the smell of gas was in the air while operating the motor later in the day it continued to stall at anything more than a 1/4 throttle and at one point would not start at all. It did operate good for a little while and we figured it fixed itself,, but on next start up it would sputter and chug on anything above 1/4 throttle. Oddly enough it willl rev in neutrul perfect and high up in the rpms, but as soon as its in gear the problem starts. Its a 2 stroke and we took off the engine cover off to have a look, but with limited tools out on the water there wasnt much we could do. Any ideas of what may be goin on with the motor, anyone else have simalir problems??? Thanks Greg.