On my Bavaria Holiday 35 the hot water which comes from the engine obviously gets too hot as the pressure/temperature relief valve on the calorifier opens and the excess water is passed via a hose to the area below the companionway steps. A couple of years ago I fitted a thermostatic valve in the hose from the engine in an attempt to stop the water in the calorifier getting too hot, but even with the valve at its lowest setting I am now getting a discharge of water, so can anyone offer a cure to the problem.
As far as I am aware the raw water system is fine, plenty of water coming out of the exhaust, the engine does not overheat, I do not lose water in the heat exchanger and the pipes in the heat exchanger are all clear, so would not know of anywhere else to look
I have to say that it sounds to me like your engine might be running a bit hot. Stick a temp guage on the pipes and see what it says, it should be between 85 and 90 degrees.