Re: Look at this bleed through...
I just can't tell from the pic, but it has the appearance of rust bleeding through the paint. What material is immediately behind the circles at the top of the streaks? If steel, its probably a no-brainer. Just grind down, epoxy coat and then reapply the anti-foulant. Pretty normal stuff, not a big deal. Although, its pretty evident that the keel joint is below the bleed through, so I'm not sure what material you have there.
Whether the keel bolts are any good is another story altogether, but I'm not seeing how they would manifest themselves like those pics, even if they were bad.
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In the harsh marine environment, something is always in need of repair. Margaritas fix everything.