I was reading through the very useful thread below, but couldn't add to it, so I guess the best I can do is put it here, shame to split things up, but never mind!
https://www.vfrdiscussion.com/index.php?/forums/topic/83194-rear-brake-locking-after-pressing-pedal/
Some more photos of the mystery green valve. This is a relieving check valve. The mesh is critical because the relief orifice is 0.2mm or less and I think people might miss it, so I'm documenting it here,
The photos show me removing it, note the orientation, balls up please.... 😉 Red silicone pipe in the outlet of the master cylinder and it hovers out with ease (bearing in mind my 25 year old bike is almost as new condition.... yours might not be so free!)
Mesh on both sides, the unseen side has 2 tabs of different sizes to prevent it being put together wrong, as it's eccentric. The spring and ball can be seen.
The other side sort of resembles a bottle cap and it pushes into a face groove and snaps down, I used a 0.5mm drill to lift a corner and got a small flat bladed under it as shown, it was still a bit tricky/delicate even with the flat driver to assist.
Now shown around the 5.5mm mark on the metric ruler, you can just make out a tiny orifice, this is the relief port. It's so small I can measure it, but I think it is around 0.2mm maybe less.
The smallest drill I have, is 0.35 so I can't clear it with a drill, in the end after searching though my wire brush drawer, one had bristles small enough, that were stiff enough not to break, if you break one in there, it's never coming out, be warned, be gentle, if the wire kinks, dont straighten it, remove it, throw it away, start again. I wouldn't advise drill bits or brass wire brushes for this reason, they are too easily snapped the hole is very deep, no doubt to add to it's restrictiveness.
The bike is a barn find, very low mileage, very very good condition, its all very clean, but I pushed a slug a waxy looking something from that hole, hopefully this will resolve my issue as pressure was building up in the centre piston and was immediately released when I cracked the hose. The pressure went all the way back to here, then stopped across this plastic relieving check valve.
Hopefully the photos and videos here will be immortalised forever, but if not, get in touch, or I keep them here: https://www.dropbox.com/scl/fo/tfbghuds6mhf49210s78o/AME1iORZF4UJXQm3jKPyTjY?rlkey=kdw4ehnjmi1nuoimdw0ra4ifj&dl=0
20240417_223535.mp4
20240417_223419.mp4