Steve,
You made the light go on!

I completely overlooked the cap on the radiator. I have a remote fill that is only about 6 inchs away from the radiator. The top of the radiator is hidden by the bodywork. Last night I pulled the radiator, (only way to get to the top) found that cap and it is a reverse flow type rated at 16 pounds!
Appears that the lower pressure cap on the remote fill was letting the coolant excape into the reservoir, but the other cap on the radiator was just letting in air. Boy do I feel dumb for not thinking of a second cap

Like you said, I'm going to plug the radiator overflow tube so this won't happen again.
Bob,
When I first looked at the 13 pound cap, and compaired it to the one off my regular ride (Pontiac) they looked very different, and the reverse flow valve was very prominent. On closer examination, thanks for your description, I found that this cap was indeed a reverse flow. I guess my whole problem was the cap on the radiator..... its reverse flow valve was opening instead of the other one. Really feeling dumb now!!
Thanks to everyone for helping me get straight on this one.
- Jim -