Update on previous post "Thermostat/water tube flush-torque for lower leg and stat cover"

[Beagleman]

I recently acquired a 1988 30 hp Mariner, 2 cylinder one carb, serial number 30 ML 689 L 331200. It was submerged, ran immediately after, then stored for 5 years in a shed. I took all your great advice (mix gas 25:1, rince off with a hose, etc). Anyhow, I think I poored oil down the plug holes (or atleast the top one) when I stored it bkuz i see a trace on the powerhead. I hooked up a gravity fed jerry-can fuel tank with a hose into the carb (i.e. were the hose feeds it by way of the attachemt tube). A full pulls and she fired up even without the choke. A happy day for robby.

Now, when the motor ran (actually it raced) the water coming out of the tell tale hole was hot (atfirst cold), the thermostat/exaust/close to spark plug holes were hot to the touch after 30 seconds of running. So, I shut it off. When trying to take a look at the stat, I twisted off (quite freely actually) one out of the 3 thermostat bolts. When running I noticed the area around the thermostat getting wet (maybe it was splashing water from the tub I was running it in?).

My questions are;
-Could I have opened the seal somewhat wen the bolt sheard?
-Does it sound like the thermostat is bad? If so, should I still try and take off the cover to clean up the area/test thermostat?
-What should I do next?

Upfront thanks for any help.

Robby