Kloudie,
Good eyes you have there.
I tore the #%$^%&*&^ vacuum breaker out of there four years ago when it started leaking sea water all over the engine. And as you can see, I have a bit of an obsessive compulsion disorder (OCD) about keeping my engine clean. I often eat off of the block as it's so clean. Spent a week cleaning it and repainted the discoloured/corroded areas.
If you'll notice the small black and white lamacoid label on the bulkhead just aft of the mixing elbow, it's the vessel's water level (fully loaded). The bottom of the water passage within the inverted "U" is 8 inches above this water level.
Now in theory, I should never get water rising this high as any momentary breakers creeping up aft and hitting the exhaust outlet would have their kinetic energy damped by the vanes of the raw water pump. Also, in theory, the cross sectional area of the water passage in the mixing elbow should never be able to fill completely and thus siphon due to the resistance of the water pump vanes. I also have a loop in the exhaust discharge which coils up to level of the deck.
However, due to my OCD affliction, I still wasn't happy with this arrangement. So I inserted a soft seated, spring loaded, check valve in the raw water line which added another 12 inches of water head resistence to any water trying to pass through the line by hydrostatic and/or velocity head. Total head of 20 inches.
Even with this added resistance plus the labeled flow switch, I can run the engine flat out at 3550 RPM (can't quite make 3600) without exceeding the thermostat specs.
Not exactly according to Hoyle, but given that the engine has no more than an inch or two clearance under the pod, it's the best we can do under these trying circumstances.