Update (Sorry for delay...been busy planning mates wedding etc)
Found the problem
...after stripping it again and finding nothing wrong with the unit, seals etc...I focused again on the rather lengthy feed tube that snakes its way from the right rear cowl to the engine, then the left hand side, and then the chain (Its far to long!...and its a bugger to prime)
After a close inspection, I found a tiny little slit in the tube...that opens up

, just enough to allow in air when you wiggle the tubing!...just as it would with wind rushing through the fairing as you ride
So the problem looks like it was the excessive length of tube, filled up with chain oil, and then suddenly dumping the entire tubes contents when the little slit opened up with air pressure pushing on it
ARSE!...it had to be right in the middle of the bloody tube didn't it
So I have made a temp fix (cut tube and put a metal tube joiner in it for now)...but I think I might just rip the whole system off and relocate it closer to the actual chain! (faster to prime and less tubing snaking its way around the bike)
The unit is currently working fine, and appears to be holding the set drip rate for now
...done!
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