So now we need to know if the fuel pump is correct pressure. Over pressure could overwhelm the injectors.
Not if the regulator is working properly. You can run the 80(?) PSI EP381 without issue on these setups, stock.
It sounds (and looks) to me like there is way too much fuel, from something. As stated above, you should never see fuel, anywhere. It's a fire waiting to happen, and it's absolutely, 100%, abnormal.
If ANYTHING at this point, I would try to get someone to help. Stop worrying about all the what-ifs, and make sure this thing isn't going to burn down if you get spark. I would have someone turn the key to run (from off) while I leaned over the throttle body unit and looked for EXTERNAL leaks, such as where the fuel lines attach to the throttle body. Then I'd crawl under the truck, and I'd have my helper repeat that test, making sure there was no fuel running down the back of the engine off the fuel lines.
Only THEN would I worry about anything else being an issue. Again, already mentioned, key off to run will run the fuel pump for just a few seconds. Not nearly enough time to pump a bunch of fuel anywhere at 13PSI. But if there is a leak, you will see it.
I wouldn't worry about anything else at this point, except a fire. And fuel outside of the TBI is what will cause that. You need to figure out why there IS fuel outside of the TBI. If it's a leak, stop, do not pass go, fix it. Period the end.