Stamp craft,
If it is oil, there are no seals to replace. The air/oil mix is shot down thru the spindle bearing to lube and cool them. Also to keep chips out of the bearing by having a positive pressure inside the cartridge.
It is probable just an accumulation. How much is there? Lots..more than 1/4 cup a day?
There is a purge program I can post for you that you run for 10 or 12 hours that will "Pump" out the accumulation. But you normally only run it is the spindle bearing are heating up due to too much oil.
You could check the air regulator (the one for the air/oil mix, not the regular one) and see if tit some how got turned up to high.
Normally they are set at about 20psi.
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