The alarm uses separate senders than the helm gauges do so while everything is reading ok the alarm sender can be the issue. Being carburetors each engine only has a water temp, oil pressure and gear lube level senders, try disconnecting one at a time until the alarm no longer occurs and you will have found the source.
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1997 Silverton 362, 7.4 Crusaders
1997 2400 SCR, 5.7 Vortec / Bravo 2
Mike
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