Cheers Oddmar.
I found that unscrewing it completely closed the valve so you're right, it needs the screw in a couple of turns to balance the upper and lower springs.
I also found it's a self relieving regulator so I don't need the blow off valve in the hull but it's in now so it can stay there.
This also means the water pressure acts on the diaphragm through the pressure relief vent which is what I need.
A quick dip in the tank shows tiny bubbles coming from the thrusters so it's doing the job of keeping the water out of the wiring.
I think these bubbles are hydrogen as my Nitrogen bottle contains 5% hydrogen for leak testing water pipes. hydrogen molecules being smaller than nitrogen ones, they get through the tiniest passage.
Hopefully it doesn't ignite due to sparks from my brushed axial thrusters.
I've sorted the on-screen data display too.
Which flags up a problem with my compensater..... My depth gauge will always read erroneously as the pressure sensor diaphragm dry side is open to the internal pressure of the hull. This did occur to me before but I had dismissed it, thinking the spring pressure would take care of it but of course i was wrong. so now I need to measure absolute pressure in the hull (15-87psi for 0-50m) and subtract the water pressure sensor reading to give me a depth. (hull pressure is approx 15 psi above water pressure due to the compensater.).
The problem now is that absolute pressure sensors have a narrow pressure range or poor resolution..... hmmmm...