Correct me if I am wrong, but I always thought the purpose of water injection into the elbow is to *COOL* the exhaust components, because the engine is in an enclosed space. If not properly cooled, one of the results will be an extremely *HOT* engine compartment. In looking at your two photos, the water injection is several inches back from the exhaust manifold on the SS elbow, which would leave a HOT SPOT, and a failure to adequately cool the exhaust manifold, compared to the OEM elbow. My prediction is that even though it looks pretty, this will lead to early failure of a much more costly exhaust manifold and valves, and a very hot engine compartment. Additionally, this will also lead to early failure of other engine components like hoses, motor mounts and alternator. etc.
My take is yanmar designed the elbow to operate in extreme environments (i.e. a closed compartment). Deviating too much from the original design is asking for trouble. I don't know why your's cracked. Perhaps the angle of installation was incorrect to allow sufficient drainage.