Have you looked down in the bilge and verified that the toggle on the valve is closing all the way? You can see it on the floor up towards the back of the livewell, have someone open and close the switch from the console and you should be able to see the black sheathed wire connecting and moving at the valve. I’d call service at BCB for ideas, but until you fix it , you can also plug the livewell from the inside by removing the black vented inside cover and putting a removeable plug in the pipe. I ran my PIV like that for years and preferred it to the switch.
