Re: this doesn't look right...
Like southKogs said that could be the tell tale stream (I have a 77) and mine does not do that, but I have seen that it the manual for some models.
I know on mine there are O'rings inside those pivot points, maybe check those and also grease them up so see if that stops it.
Edit - after looking at that first pic, it looks like the water is streaming out right behind that black bumper in the middle, that makes me think that maybe your greease fitting has failed and is lettign water out, either that or you have 1 of the 2 bolts loose which is letting the water out, pop that black bumper off and see where it is coming from.