If this is an Opti an the tell-tale is hot that could indicate a clogged strainer.
The tell-tale on the Opti's are fed by the water channel (hose) that cools the air-compresser.
That channel is split off at the top end of the water tube, and then travels over to the compressor via a water hose (kinda like the heater hose on a car). Where that hose re-enters the block there is a strainer (filter) located with the fitting.
If that's clogged or partially clogged it can lead to an overheat (and alarm) from the compressor which means the heads maybe getting all the water they need (fed by a different water channel not affected by that screen) and are running at "normal" temperature with the thermostats and poppet functioning normally.
Sorry, should have asked in the beginning -
Is this an Opti, EFI 2 stroke, or a 4 stroke???