So I pulled the bladder out of the BCD and set it all up with the dump valves etc. Half filled the bath, pumped the BCD bladder right up and started dunking.
Good news: the bladder is rock solid. As are the dump valves (new), the old spare air blanking plug and the inflator connector.
So where are the leaks coming from?
They are coming from the seal between the inside valve, bladder and outside valve.
The setup is a little different to the video above. It has a rubber coated plastic cup and thread on the inside of the bladder, which sandwiches the bladder and BCD material inbetween the outer plastic valve. It appears this setup is not air tight and I've reached out to AP Diving to understand some tips and tricks and on how to connect the valves. I could tighten it right up to pretty much eliminate the bubbles but I was worried about breaking something.
I have all the right tools, so I suspect it's just technique that's holding me back at the moment.
Photos attached.
1. The plastic inner valve and rubber surround. This goes inside the bladder.
2. The plastic inner valve and rubber surround together. This is done inside the bladder.
3. The inner valve inside the bladder and poking out the hole. The BCD material also goes over the top of this once complete.
4. The outer valve part that threads on to the inner part.