Its a greddy td04, there is no shaft play and i do not see any oil on the blades?actually my guess would be the oil bearings/seals in it....does the turbo have any shaft play ?? what kind of turbo is it ??
is there any oil on the compressor blades ?? or in that area...??
take off the coupler thats on there and see if there is any oil in the compressor housing...
I'm pretty sure the oil is NOT supposed to leak out of the turbo seals normally..clean the oil off the compressor. Do a full 4th gear runs to build alot of oil pressure. if it comes out after the pulls its most likely normal. The oil pressure builds up and when you let off the throttle the rpm' of the turbo slow down leaving the oil no where to go but out the seals.
LOLI'm pretty sure the oil is NOT supposed to leak out of the turbo seals normally..