the 5 speed i just pulled out of my VL seems to have grey oil in it. Is this water or something else getting into it or could it be from wear?
You shouldn't have made a new thread since you asked this in your other one...
Google reckons grey gearbox oil is from wear and/or something to do with the clutch seals or something, but I drive an auto so I wouldn't know.
Milky is due to water
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Try flushing the whole system & topping up with all new coolant, oils etc and run till warm and check, let the car cool etc, run till warm & check again, might just need a bit of TLC because it could also be ground up metal [Really really REALLY fine metal shards] from wear & tear due to age etc.
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