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The exact model of your bike matters. Which one is it?
The valve on your bike only has a series of holes in it, there is no valve like you think. The EV has a valve like the back of a pick up on the swingarm, it has a valve. You need to pull pucks out & clean. If you have newer rear brake with pistons next to each other there is no dust seal. If you have the older brake caliper with a piston facing each other, it has a dust seal. One reason they say to clean fluid every year.
It's in my signature line. '95 California 1100.
Your bike does have a proportioning valve, not the simple, multiport manifold of the first generation integral braking system. Guzziology (1st. ed., version 5.1, page 19-55) lists it as "four way proportioning", part number 2766-8561, a type that has a complex, internal proportioning mechanism. Complex, at least, in its principle of operation. You can find a very clear discussion of the disassembly and cleaning of of the general type here:https://www.thisoldtractor.com/mg_manuals/instructions_brake_proportioning_valve.pdfBe careful following the instructions. I ruined one of these by trying to use a 3mm instead of a 2mm punch, ifI recall that correctly. The author of the instructions did much better.I don't know whether your problem bleeding the system is caused by anything in the proportioning valve. These systemsseem inherently difficult to bleed. You might look around for more bleeding advice for them. Maybe in Guzziology.Good luck.