Sorry for the late update, I've been traveling a lot for work. Got it back on the water today and she runs great again

The problem was the float module. I replaced it and the little vent hose inside the fuel supply module. That float modue is a cheap piece of junk but it still cost me $70 then $20 for the hose and another $20 for a new cover gasket. All Mercury name brand replacements. Funny how they tell you to make sure to use genuine Mercury parts to avoid problems but it was Mercury brand that failed in the first place.

Any who, they were replaced in about an hour and she's back to where she should be.

Hope this helps anyone else that has an issue with a 2011 or 2012ish time frame Mercury motor. For around $110 and an hour of your time it will be back to new. Had I taken it to a shop they quoted around $450. Now I have $340 to spend on some new fishing tackle or just keep it for minnows this winter.