I think you may have answered your own question here, Colin...the black water that you see is in fact rusty solids called 'magnetite' and this stuff actually generates its own gas - hydrogen in fact. Therefore, so long as there is magnetite in the system, you'll never cure the need for bleeding. The cure is to have your system thoroughly washed out (power cleaned) and an inhibitor added when its refilled.
John, August 2009