There is no stop on that oil fill plug. If you keep turning it, it will drop into the cone.
The manual says to secure it with Loctite and tighten it till it's flush with the cones casing.
If I'm reading your post right, you changed the oil in the cone and ran it one time, then checked it again and there was "water in the oil".....is this correct?
If so, this may have nothing to do with your cone. The cone is only a small void for putting the oil into. The oil actually passes through the cone, thrust bearing, jornal and into the cavity of the impeller bearing housing. There is a seal ("0" ring) in the nose of the cone and a seal at the back, where the impeller shaft passes through. When you replace the bearings, your suppose to do a pressure test to ensure the seals hold 10 pounds for 10 minutes.
You could have had water in it before you ever removed the cone. If you didn't remove the pump and dump it upside down, then you still had 80% of the oil in the housing.