you can take the front off the pump (I'm not sure whats it called). It's held on by four screws, and when you take it up you should see an O-ring. Before putting it back on line the O-ring with something like silicone.
BTW- My mag drive 7 is not to loud, except if there is air trapped inside (which should be leaked out anyway). Or if the pump is vibrating my case, which is easily solved by putting something under it to absorb the vibration.
As to it getting hot, you could try some arctic silver adhesive and attach a hs/f on the side (I find the side of it gets the hottest)