Does sound like the radiator and something that needs sorting sooner rather than later. It doesn't seem to make much sense to replace it with another plastic tank even though its still under warranty.
I will get it pressure tested, I can't see any obvious sign of a leak, and Simon is likely to have one less radiator on the shelf shortly.
Anyone had any luck with Morgan making a contribution to replacing the faulty radiator with an aluminium one rather than the standard one ? (Assuming it is faulty)