Is your V-Drive and tranny all in one unit or two separate units. If its one unit check as follows. If you pull the dipstick, does your transmission fluid smell burnt. It could be the bands in the transmission slipping causing it to get hot. Your tranny/vdrive cooler could be partially stopped up not letting it cool properly. All this is assuming you kept up with maintenance and topped off fluid levels. You said that you couldn't turn the shaft after it got hot which could mean you fried the bearings as well. Yes they will turn now that its cooled back down, but definitely keep an eye on it. If it is your bands and you have to replace them, I'd have the shop replace the bearings as well. When you were running the boat did the transmission feel like it was slipping at all. If its not your bands, a passage cold be clogged or you may have a bearing going south.
If its 2 separate units, check your v-drive unit for oil level. If its low, fill it up with 30w motor oil and go run it and keep a watchful eye on it because your bearing(s) are going south since you ran it low on oil.
Last edited by 9Drozd; 06-22-2012 at 11:02 PM.