You really have me stumped on this one. It seems like you have changed everything I would have. I had read a while back on a forum about a ball that slides in/out somewhere within or around the thermostat housing that can get stuck, but I believe it wasn't on our model (I think it was older).
In worst case, you could remove the thermostat and just winterize. I also believe some of the water does bypass the thermostat anyhow, thus still winterizing fine. & if you are staying at 120, you have to have water going thru the engine anyhow. So, I think either way you are ok to winterize. But it is something that needs figred out. Hopefully this is something Al may have seen and can help out, I'm very curious.
