Thanks both for the replies.
In relation to the comments above.
It is definitely water leaking - clean water, no oil at all.
When i first got the bike, i never really ran it - it had various issues and was stripped down immediately, so was not aware if there was a leak or not. However, as you say, the previous seal must have been leaking to some extent as the impeller shaft was corroded.
I removed the various seal parts from the clutch casing on disassembly, so know what parts you mean.
All parts of the new seal assembly have been replaced, and are genuine Honda.
I will re-check the installation of all the components, as if i am very lucky one of the seal is not seated correctly.
I agree that the metal part of the seal is very delicate and could very easily be knackerd on assembly. I am not sure how best to confirm this though?
Another niggling doubt is that the impeller shaft has just enough corrosion damage to not seal properly.
There is very clean looking impeller shaft on eBay that i may have to take a punt on, otherwise i could replace the (expensive) seal assembly and see no improvement?
Hmmmm - decisions decisions?
I will report back. Thanks again!!