Thought at first it was a rain on the air filter problem, but built a shroud to cover the K&N and still having problems with motor cutting out (sounds like running on 1 cylinder). Looks like it only happens when the motor has been run WOT for 15 mins or so, and only when the boat is loaded heavy. Run at idle for 5 mins and it clears up. Running 1 up I've never had this problem. Already fixed the diode shorting problem, so that's not it.

I did notice one time in the rain that the coil wire was shorting to the case, haven't seen it since so don't know if this is my problem or not. Can the coil wires be changed without replacing the coils? Can the coils be checked?

Check your fuel line from the pump to the carb. The inside of mine was deteriorating and a piece of rubber got stuck in the jet causing it to do the same thing

Follow up with solution if anyone else has this issue:

Noticed a lot of arcing from the back of the spark plug boot on one cylinder. Removed the engine shroud and wrapped both spark plug wires and the boots with fusion tape. Opened up the exit holes in the shroud so the wires wouldn't get pinched and put it all back together. Purrs like a kitten now. Will see how it holds up.