Have you ran it on the water and seen if the light comes on? Trust but verify for yourself what people say. If you have a infrared thermometer gun , run the ski and see if it actually goes above temp. If you don't have that gun, you can check the temp sensor to make sure it is working.
Check out my threads, I did a lot of different things to diagnose my over heat problem. I got it fixed but it took a few try's, doing different things .