My experience is that the reservoir will sometimes empty after the first couple of rides in the spring. This usually requires refilling the reservoir. My research on other boating forums points to air bubbles during filling.
Every winter I have my outdrives serviced. This means draining the lube. When they replace the lube they are supposed to feed the lube in through the bottom. If done carefully no air bubbles get in the lube. If they do it from the top or do a sloppy job, air pockets can be caught in the lube. This make the lube seem full but it's not. After a little while of running the air come out, the reservoir replaces the missing lube, and the empty reservoir causes an alarm.
After I fill it once in the spring it never needs lube again. If I needed more lube after that I would worry about leaks.
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