Interesting problem! The Exchanger cap for our Yanmar 4JH4E (54hp) leaks coolant even when the engine is cold. I purchased a new cap and replaced it but it still leaks. Actually seemed to leak worse. As long as there is coolant in the bottle it will allow it past the seal. The coolant in the exchanger maintains at normal level right at the neck unless running hard for a long time. I looked at the pressure spec on the cap and the old and new one is the same. I suspected that the seating surface on the exchanger might be dinged or warped but do not see anything there. I am wondering if I may have purchased a new cap that was not correct. Scratching my head over this one! Any suggestions on troubleshooting this?