Air Bubbles in Power Steering fluid.....
 

Today as a preventative measure... had Timing Belt Changed in 01 CL-S (50k) along with the Water Pump, Tensioner Pulley, Tensioner, Idler Pulley and Fan Belts. Everything went smoothly, However, upon restarting Power Steering Pump was much louder then normal, then after turning the wheels back & forth, shutting off and restarting, noise is even louder and power steering fluid was mostly air bubbles and reservoir started overflowing? Would greatly appreciate any thoughts on what the problem might be?? Thanks.

Sounds like your power steering pump isn't pumping the fluid through, make sure that all the belts are tight for the power steering pulley and that everything was reinstalled correctly. The sound is from running the pump dry.

Make sure the hoses aren't kinked or collapsing. Especially the hose from the pump to the reservoir.

Nooooo, your pump should be pumping fluid fine. The problem is that air is getting in too. Try to find the source where air is getting in. Take out the PS pump, and put it back in? DON'T over tighten the PS belt!

Definitely sucking air in the system! I see that alot. It's somewhere from the reservoir to the pump. It's a short hose and 2 clamps. just replace them to be sure.