Hi Nicolas,
I have been struggling with a similar issue since April. See:
http://www.alfabb.com/bb/forums/alfa-romeo-montreal/405681-such-cool-car.html
So far, the fan switch has been replaced, the coolant has been replaced and coolant system bled; new thermostat and "thermostat cap" (well it's not on the radiator) and all new Romablok hose clamps. I have a jumper connecting the two fan switch wires so that anytime the key is 'on' the fan is running. One difference I noticed between your situation and mine is that my temperature gauge reads increasingly higher, until I pull over and let the engine cool down.
For what it is worth, I tested the old fan switch and thermostat, in a pot of hot water on the stove with a thermometer, after replacing them and both tested good! The engine does run cooler with the fan continuously on but is still prone to get 'too hot'. My friend Tom suggested that I remove the thermostat but I have not tried that yet and believe doing so may be another 'potential cause' of overheating as coolant in the radiator does not have enough time to dispel heat, before going back into the engine.
Larry Dickman built this engine, he offered that there had been some issues with the 'Athena' brand of head gaskets; where the 'fire ring' deteriorates. He suggested I run a compression test on the engine, which I have not done yet but will. See here:
http://www.alfabb.com/bb/forums/alfa-romeo-montreal/430777-gasket-requests.html
Another possibility that Bruce Montrealmighty" mentions in "The Essential Companion" (a fantastic resource, if you don't have a copy by the way) is the possibility of leaking hoses or cracks in the head: "As the pressure in the circuit rises, coolant is expelled into the compensating reservoir via the spring-loaded sealing ring of the filler cap above the thermostatic valve. If the cap seal is compromised by wear or corrosion, air instead of coolant may be drawn back into the system when the engine cools. As a result, air and excessive coolant can be expelled through the reservoir the next time the engine is run. Very slight leaks at gaskets or coolant hose clamps can cause the same effect. On the other hand, a continuous stream of bubbles in the coolant while the engine is idling normally indicates leakage of combustion gases due to a cylinder head crack or a defective cylinder head gasket." Cooling:
The Alfa Romeo Montreal Website
See also:
The Alfa Romeo Montreal Website
I have not studied the engine cooling system enough to understand how combustion gasses can get into the cooling system causing it to overflow; especially without oil being in the coolant or coolant in the oil.
Depending on the results of the compression test, it will be determined whether to re-torque the heads nuts or not. Tom has already graciously loaned me his entire specialty collection of 'rather odd looking' 17 mm closed end wrenches for my torque wrench, should they be necessary.
Mark