Had a good conversation with MotorGuide this a.m. I really didn't think I'd get through to customer service that quickly.
He said there is no cause for alarm and there are hardly any lubricates or oils present in the unit so it is most likely water that has gotten into the unit through normal use and the "oily" appearance may be that water mixing with residual products used during manufacturing. Said they get a ton of calls about water traveling down the shaft and out the head unit but he hasn't heard of a call like mine, at least not something problematic.
For me it's not an issue, i don't mind cleaning it, I just wanted to make sure the unit wasn't leaking any fluids that need to be in there vs. on my boat deck. Sounds like an all is well to me