So purchased a new OE temp sensor and installed it. The rev limiting (2500 rpm) problem went for constant to intermittent.
This is making me a little nuts. I'm a 30 automotive master technician skilled in electrical/ computer diagnostics. That said this is a simple normally open temp. sensor that should ground (the tan wire) if an overheat is detected. Sensor unplugged the engine will rev. to over 6000. Sensor plugged in (2500 rpm sometimes, sometimes 6k+). Ohm out the sensor to ground its open. I also have a buzzer in the shift handle and a temp. light on the dash, neither come on when the engine is acting up. I do not have a repair manual or a good wiring diagram for this engine. There is also a white wire on this sensor but do not have a good description of operation for this sensor/cdi box. This problem occurs right from a cold start, engine cold or a any point throughout using the boat. Overheating is not a possibility. This happens in the driveway on the muffs or in the water under load. Your expert advice is appreciated.