I am interested in the correct answer to this also. I noticed this exact thing from my 1999 Mercury 125 last Saturday. Same situation as you, brought it home to de-winterize and noticed water coming from here while running on muffs. Searched the internet and my repair manual, nothing found. Near as I can tell, that is the shifting shaft going thru the hole? Could be wrong?
-MK
WWW.SIMMONSSPORTINGGOODS.NET
they currently have the Kistler Magnesium TS on sale....50% off.....most are $84.99.......can't beat that....
-MK
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