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Chris Craft Lancer out drive Problems

I have a 1972 CC Lancer 19' It has the 350Q rear facing engine ( flywheel forward ) and a Volvo Penta 280 outdrive. I had someone push off my boat as they got out at a pier and pushed my prop into some rocks or something hard. It chewed my prop up. I was able to load it but that was the end of the season and figured a new prop would fix it. I put a new prop on and took it out. It does fine at idle but when I give it medium throttle to get out of the hole and on plane it sounds like it is slipping and looses propulsion. This engine has the dampener hub mated to the front of the crankshaft ( normally where on an auto you would have the harmonic balancer ) this is where the out drive connects to the engine. My fear is that the woodruff key sheared and the dampener hub is spinning in the crank. Has anyone ever had this happen to them? if so what did you do to repair it? Thank Matt.
 
There is supposed to be a weak point in the vertical drive shaft in the drive itself to act as a "shear pin" to prevent damage to the gears themselves. Perhaps this went. Your post may get more responses if posted on the Volvo forum.
 
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