I have a 1995 Stratos 201 with a 225 Johnson, runs great but. I was out on the lake and a major fuel leak stopped us in our tracks. I found the leak coming from a solenoid with a small red valve and a fitting for checking pressure. This part is below the starter and has two small "vacuum" lines going to the intake area and fuel supplied from a t-off from the main fuel line. The red valve with the check fitting was cracked causing the leak. I melted the red plastic valve with a lighter(removed from engine first) and got us home. What is this part called and whats it for?

What you're talking about is the primer solenoid. The two smaller ones go to the intake manifold to prime the engine when you press the key switch in. The red lever is the manaul primer valve so you can manually prime the engine by flipping it up and squezzing the bulb. The schrader valve in the center is so you can do fuel pressure checks and inject decarb treatment.

You can take the four small screws out holding that piece on and get a new top section to replace it. The whole solenoid is expensive so don't consider buying the whole thing.

You could have pulled the large line off and plugged it to stop your leak.

I'm at the lake right now, when I get home later I can give you a part number, I think it's about $20 for a new kit.

Thought there was a kit but didn't see one.  Here's four parts you will need

341071 Cover

175158 Valve

341297 Gasket

331365 O-ring

Thanks Ben for the info. I found the parts catalog online with exploded parts veiws and figured out what I need. I thought about plugging that fuel line when I was out there but I didn't know if it would start without it. That was the first time I had the boat on the water, better now than during a dog fight.