2002 70 hp yamaha overheating

[jburns29]

i just recently purchased this boat the dealer took me out on water for about 30 minutes had no problems. he had told me that the overheating light and horn was sounding but they found the problem he said it was the pitch of the prop was to high for this motor and was sending a bad signal to the computer.. really dont know if it has a computer or not but it seemed to be fixed i thought!! well took boat out yesterday drove around lake for about an hour went to load boat up as i was approaching the trailer the horn sounded and overheat light came on. i looked back and there was water coming out of the peep hole. im new to outboard engines wondering if anybody had any
ideas

thanks joe

[jburns29]

what is the temperature sensor called on this motor cant find in the parts catalog?

[boats.net]

It's called a Thermoswitch on parts listing, number 38 in this diagram Yamaha Outboard Parts 2002 70TLRA ELECTRICAL Diagram