Gearbox breathers venting fluid

[Hightower]

Well, since the Billing bash, I haven't driven the car very much as I've been away but, before I went, I noticed that there was alot of fluid coming from the rear of the engine bay down onto the chassis rail.

Now, I assumed, wrongly it would seem that it was the fuel pressure regulator failing (they have a tendency to do that on D2's), but it would seem that it is either the gear or transfer box forcing oil out.

Am I correct in thinking that if I had got some water in whilst at Billing this would be the resulting symptom?  If not,what do you think may be causing it?

[clbarclay]

If you got any water in them then the oil will be milk to look at, may be worth an oil change and seeing that state the old oil is in.

[thermidorthelobster]

Sure it's not the axle breathers?  My front axle has vented water twice now (down the passenger window, because I have raised breathers  :x )

It seems the axle heats up until the water boils, and sprays emulsion out of the breather.  On the bright side, once it's done this, what's left in the axle is oil in surprisingly reasonable condition.  Still worth changing though.

[Hightower]

Sure it's not the axle breathers?

No, sure it's not them.  They are entended up on the near side of the engine bay.
This mess is being created in front of the driver, right where the fuel regulator is found, hence the misdiagnosis.  Didn't realise that this is where the box breathers come up until today when I took the engine cover off to have a proper look . . .