Can trans fluid leak out universal cover

There is a felt seal in each of the outer covers. It is not a big job to replace them and it's something often overlooked what a car is restored. The "spot" is most likely liquified grease from the universal joint.
 
There is no rear transmission seal. So oil leaks past and dilutes the u-joint grease as its designed to.

So as said. the felts can start to leak and the ole 'A' will start to mark its territory.
 
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