The bubbles in the oil is air, after it sets a few hours, try it again.
Not unheard of to have what you describe happen.
The whole system had been disturbed and full of air.
Now that it is filled with oil it should start to operate and work the remaining air out.
Is the nut tight on the suction tube on the bottom of the unit?
That is where the system it gets it's oil from the rear end reservoir.
Also on the "cork" gasket.
let me explain that situation.
The oil in the hydro returns into the reservoir in one of 2 ways,
The early ones has 2 male torex head bolts, to retain the angular plate inside the hydro, the 3rd hole was for the oil to return to reservoir.
The later units had the plate cast into the hydro eliminating the 2 bolts and did away with the 3rd return hole, making the oil return around the shaft bearing to the reservoir.
Hoping that bearing was not replaced with a sealed unit, unlikely someone did that but it is possible, I've had to replace a worn shaft edit& bearing before.
Just a heads up for you.
Edit:
Read my post #8 on charge pump orientation in case it has been removed & installed wrong
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