V drive temp

[Jlagos 23]

Anyone, 

Yesterday we were out wake surfing and suddenly the engine gave a screeching noise as if a belt was slipping and immediately I throttled to neutral. All gauge readings were normal with nothing unusual. The belt looks normal. No funny smells, sounds or vibrations. The vdrive gear oil has a normal color and level but the housing/case was hot. I seem to recall touching it in the past and it was much cooler than I had anticipated. I assume since the engine temp is running normal (163) that water is flowing properly through the vdrive to cool the unit. Am I recalling incorrectly the vdrive housing being only warm in the past and not HOT? I could hold my hand on the casing about 3 seconds before thinking youser that's kinda hot.