[99 Boxcutter]

So I'm sitting at a bar, drinking a catptain and coke, posting this waiting for my 99 boxster to cool off... (After $8 k into a seized engine, this time I'm not taking any chances.)

I don't know what it's called, a temperature LED, light? Whatever it's called, the thing is flashing red even though it's halfway between 180 and the next little mark... Anyhow, I popped the trunk and twisted the cap off the water reserveroir and it was BUBBLING HOT! I looked in there and it was kinda greenish... The bumper is also really hot. Should I be worried???