I have a vehicle with many of the same parts, 94 Explorer, mechanically almost identical to yours. I had the same problem. I replaced the water pump and then figured out it wasn't the water pump at all. It was actually a gasket had started to blow out, on the passenger side of the vehicle, between the manifold and the engine block, right near where the hoses go to the heater core. This place was hidden behind so much clutter I didn't figure out this was the problem until after replacing the water pump. The water pump on your vehicle isn't located at the top, it's actually right behind the fan. Your vehicle may have the same problem mine did.
I fixed the problem by shoving gasket maker into the space where part of the gasket had come out of. It would have been a huge repair to try to take all these parts off. It's been about 4 months and so far, this solution has held up.
If you water pump had failed you would not be seeing water "out of the top of the engine". More than likely you simply have a broken heater hose. It's an easy fix if you can find which hose is leaking.
Water? Coming out of where? If it's coming from the rocker cover, that's not very good news at all! Have you felt it between you thumb & forefinger? If it feels "greasy" and looks greenish at all, that could indicate coolant leaking into the block, which will likely mean it's time to retire the old beast...
Best take it to a good mechanic and get it checked out...
Top front, by the big radiator hose? Top rear, by smaller hose? Heater hose. Front is either hose or thermostat housing. Water pump is in front, behind fan and pulley.
Water is coming out the top of the engine in my Eddie Bauer 1993 is is the water pump
