A common wifes tail is that lean mixtures always cause high EGT's when in actuall fact they CAN cause lower egt's.
When you tuned the engine for run in did you set the timing advance very conservatively? Another common mistake. Retarded igniton timing causes hot EGT's, very hot exhaust valves and anything in the path of the exhaust gas. Fresh engines should actually be run in with a touch more then normal ignition timing to keep exhaust valve temperature and EGT's down.
Perhaps try advancing the timing a little more then you did. Obviously taking care its not detonating etc.
Note: A glowing red exhaust does not mean the mixture is lean, generally it means the air/fuel mixture is rich!
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