Try bleeding it with a Mighty-Vac pump.
Instead of pumping with the bleeder open, close the bleeder and build up about
25" of vacuum and then open the bleeder.
After that use Dinqua's trademarked "Tippy Tappy Tap Tap"method.
Quote:

"Tie the lever on fully with a bungie overnight. Then tap on the brake lines with a small wrench (tippy tappy tap tap) from the bottom up to the lever assembly in the AM, and let it sit another hour or so. It will be like a rock then."




Steelheart- '03 Speedmaster Black/Yellow The Hayabusa Killa 16" Shorties/140 mains/Airbox drilled Procom CDI "There is no cure for Celibacy. But we can treat the symptoms."