The Imron is bubbling, not the anti-fouling paint, correct?
Imron will bubble if it cant breath, especially if the boat is stored with a plastic/shrink wrap cover. The bubbles usually go away once the paint is exposed to the air.
I have also seen Imron bubble in areas where the bondo (lots of bondo on these boats) reacts to the paint. This usually occurs in corners where lots of filler is used.
Can you try using a pin to pop one of the bubbles. See if they are full of air or water or crusty corrosion?
Perhaps part of the hull was damaged in the past and fairing compound was used across the hull before repaint? I guess that depends on how clustered the bubbles are.
Make sure no 12V equipment is grounded to the hull.
Shore cord is healthy (blackened ends etc) and not leaking voltage to the hull.
Neighbors shore cords are healthy and not leaking voltage.
Marina bulkhead, if present, is not leaking voltage into water....Check for stray voltage between neutral and ground. Bulkhead should be connected to ground.
-Karl
1986, 32' Sedan, twin 360ci, 275hp Chrysler's w/ K&N flame arrestors