If the closed WATER system is leaking then what you test/isolate is the closed WATER system, not the cylinder.
The M25 has (at least) 3 potential causes of losing coolant out the exhaust, so why focus on the least likely one?
The FiRST logical step is a vacuum test on the seawater side of the Hx (easier than a pressure test, and easier than on the coolant side.)
The SECOND logical step is to test the exhaust manifold, first just as it sits (connected to the engine block.) Using a radiator pressure tester (loaner from auto parts) OR the same brake line vac pump as on the Hx.
Test #2 fails THEN test w/ the EM isolated (block off the two hose paths to the engine.)
If #1 Hx test fails, it's a bad Hx.
If the EM test #2 fails, it's either an exhaust gasket leak or a water jacket leak.
If the EM test #3 fails, it's the gasket. If EM#3 test passes, it's a water jacket leak.
If you have no coolant in the oil (you will see the muddy concoction on the dipstick) you don't have a head gasket problem. There's no evidence to suggest that -- head gaskets don't just "go bad." You didn't overheat (warp the head,) bla bla bla.
You likely have either:
a) A leak at the exhaust gasket. If you install it backwards, 100% of the coolant will be in the sea within 5 minutes. A leaky one will dribble coolant into the exhaust.
Find a new "mechanic" if one tells you anything otherwise.
b) A pinhole leak in one tube in the Hx.
Because you did exhaust work, evidence suggests that is the cause.
Except
what is "recently"???
Just before the incident? Had the engine run ok for one season after doing the work?
Was she run ok one time?Complete info helps us to help you.
You didn't answer is it the 2" or 3" Hx?
I WOULD NOT be surprised if she came up 5 degrees SOLELY because of a 2" Hx. That needs replacing sooner than later anyway - at 36 years you are WAY overdue and on not borrowed time, but defibrillator time. Even if it is the 3". However, losing coolant as well - says to me you have a bad Hx right NOW, not soon.
Typical Hx life is maybe 20 years -- my 2" Hx pinholed at 15 years (freshwater. Salt is worse, obviously.)
If time is of the essence you're wasting time chasing a less than 1% chance of the cause.
Or go with your gut, YBYC.
My assessment after 29 years owning and working on others' M-25s is:
Under normal circumstances - 90+% chance it's your Hx;
However, because of the prior work it's 50% chance the gasket.
0.1% chance it's a head gasket.
Did you replace or test the pressure cap?
Is there coolant being pushed into the overflow reservoir? (and not returning?)
If continued use/reliability is critical -
(1) Replace the Hx -- it is going to fail soon if it hasn't already.
(2) Put a wrench on and tighten the exhaust flange nuts.
YBYC how you decide to proceed.