The 340 is out....again.....
UPDATE:
Received a call from the shop yesterday and the real issue has been identified as a missing freeze plug. Apparently this had been removed by the first engine shop I had hired to do the rebuild and was never replaced. It's not one which comes in a rebuild kit of plugs, and shouldn't have been removed in the first place from what I'm told. The plug is visible in the closeup photo, dead center and aluminum colored.