2001 225 Vmax EFI Question/Problem?

Took the boat out for first time this year. I used the bulb to get gas to the engine, which only gets used once a year or less. Motor ran great until I opened it wide open. After about 30 - 60 seconds the motor killed. I was able to start it right back up and was fine until I opened it up and then the same thing 2 more times.

So right away I figured bulb might have some sort of leak or problem. So I replaced the replaced the bulb. When priming the bulb wasn't getting hard and I had squeezed it quite a few times. So I looked into plastic fuel (cup/fuel filter holder) and could see fuel was flowing into it.

I then looked on the ground and gas/oil was coming out of the muffler. About a 8" circumference circle on the cement.

Should this happen? If not what might be my problem?

Thanks,
Droptine