Coolant leak seems to be housing of new water pump installed in the past 6 months as the housing extends out over the shaft to the pulley. The crazy thing is it looks like a perfectly clean 1/4" hole on the passenger side of the housing. What is the hole in this picture because I have a steady stream of coolant flowing from it? Is there suppose to be a bolt in there or what?

 

I believe that is your weep hole. When coolant comes out of it, it means that the bearings on your pump are shot and it is time for a new pump. They usually last longer than six months. Some reasons for early failure are faulty manufacturing of pump, belt too tight, improper installation, or the shop didn't change it and billed you for it anyway.

 

If you are going to replace pump (very likely) then plan on a fan clutch as well. If belt has any "wobble" in it metal has already been eaten away inside. Maybe they installed a pre-owned pump. BP Utah has a spiffy aftermarket with a larger bronze impeller, higher volume.

Common for a new pump to rapidly wear because of a almost bad fan clutch. After all, they have been mated for life and whirling around at several thousand rpm, now you change the balance of things. There's a write up in tech area on a $50 ish Chevy fan clutch.

Pix - new style pump, 175 K pump on left, used pump from salvage on right, close up of worn pump. Note calcium buildup from wrong water used and brown coating from stopz leakz...