The VR may have been just bad from the start. Or maybe it was polarized incorrectly when you put it in.
Voltage regulators are odd little beasts, A balance of mechanical spring tension versus electrically-generated magnetic force ends up with an old style voltage regulator. Which is a device which can literally be rebuilt at the kitchen table - or built from scratch in a home workshop. And not surprisingly, manufacturing them relies on some some care and craftsmanship winding coils and setting spring rates. That attention to detailed craftsmaship is going to be more and more unlikely as the demand for that old style voltage regulator diminishes.
Demand diminishes because voltage regulation devices for the past 40 or 50 years has been switching over to using semiconductor voltage regulation circuits. It is much simpler to consistently make a reiliable semiconductor voltage regulator - that's what all the modern alternators have built into the alternator. Of course that level of simplicity can only happen after technology has advanced to the point where semiconductors even exist. .... which takes a whole industrial base itself.
Be interesting to see what your voltmeter shows when you get a chance.
rScotty
Volt meter reading now in 14.8V to 15V range. Light staying off like is supposed to.