I don't remember a vent hole "under the little silver sphere" but I do remember slots which match the ball on the shifter lever.
I also remember that one can "pull up and turn" the shifter lever - a feature held in much esteem by period teen-agers looking to go "parking" - and why let a little piece of metal get in the way of "what comes natural."
That said, the seal/seat at the top is less than perfect, and given the spring, is effectively a "pop-relief valve" for any pressure - that is if pressure doesn't squirt out around the two slots.
I go with the actual vent hole (3/32) being covered with paint or grime/dirt or both and now oil is being thrown high either as foam or overfilling.
All previous answers for $200 Alex...
Joe K