Hello Andy,
Thank you for a very comprehensive explanation of what the valve does.
I can confirm that the water was leaking from the top of the cap, having tightened it to 'handtight' the leak has now stopped. I suspect that the valve was faulty from installation. When the last fault was rectified by Keston, I noticed that the Boiler had started to kettle. I put this down to lack of inhibitor (engineer told me to get the inhibitor replaced in the Spring as it was rather weak).
In April, two months after the last engineer visit I did a full drain down (bar taking rads off the wall), ran cleansing fluid for a week, then full drain down and added 2.0x the recommeded dose of inhibitor. This resolved the kettling problem which was becoming quite troublesome.
Skip this bit if you get bored of DIY Rants: {Well, of course the drain down didn't go that well, they never do. On running up a 'full heat scenario' with the cleansor, water was ejected from the header tank. A few beers and a night to think about it, found the float was full of water, but screwing on a new float didn't let enough water in the tank, So of course changing a ballcock + float is a 2 minute job. An hour later, after creating a world beating Twister pose in the loft, the ballcock was replaced - the monkey that previously installed the unti had managed to cross-thread the nylon locking nut!}
Since the inhibitor change in April, we've been getting the 'Keston boiler pump cycle problem'.
Air must have been entering the system via the freshly cleaned valve, and causing the pump cycling problem. The leaking started yesterday probably progressive worsening of the valve.
There is no longer any air in the radiator on the HW circuit, the Boiler no longer pump-speed cycles, the leak has stopped.
The inhibitor should still be ok - there was a bit of 'condensed inhibitor' in the case of the boiler - and a nice spray effect if you're into that sort of thing. I'll get hold of one of those litmus inhibitor check thingies just to be on the safe side.
When I change the inhibitor next time I'll pop a new valve in place.
For now I am happy, and looking forward to a good nights sleep.
Many thanks,