Hmmmmm....
What we need to do here is apply the same logic Sherlock Holmes used to solve mysteries: when you've eliminated all the impossibilities, what's left has to be the answer.If you're not having any problem flushing into the tank or dumping the tank, the tank vent is fine...and besides, the tank vent has nothing to do with flushing directly overboard. If you've made sure that the y-valve is open to the thru-hull...that the toilet flushes just fine through the y-valve--no blockage in the hose between the toilet and the y-valve...you've made sure that the seacock does open the thru-hull...there's only one thing left: a blockage or partial blockage in the section of hose between the y-valve and the seacock.It may be waste, or it may be that sea water mineral buildup has reduced the diameter enough to restrict flow and create backpressure. Make sure there isn't a partial blockage in the thru-hull too...maybe a sea critter has set up houskeeping on the outside of it, partially blocking it. That would let some water in when you tok the hose off, but create enough of a restriction to interfere with flushing the toilet.