TVAG,
I had the same problem with the brake on my 550F. There was fluid leaking from around the hand lever. I took apart my M/C and caliper this past weekend, and naturally the plunger and internals were corroded. I can't remember if you have already rebuilt the internals on your M/C - but if you have not, its definitely time. I just ordered the rebuild kit, and will hopefully have it all together this coming weekend.
I did soak the body of the M/C in Lime/Rust/Hard Water remover, and man, it came out clean! I then went through the M/C resevoir and the inside of the caliper with WD-40 and a crushed up ball of Tin Foil just to get them as clean as possible. The Tin foil is much softer than the metal of the of the components, so there is no danger of leaving scratched behind. As an added bonus, the Foil can be shaped to really get into the groove which holds the piston seal inside the caliper and does a great job of getting the gunk out of it. I then tested the clearance of the breather holes with a couple of shots of Brake cleaner.
When you pull the internals of the M/C, the circlip is a real PITA. I have the much recommended Motion Pro pliers, but they were not much help due to the fact that there was another clip that I missed getting out (it is circular with a piece missing from it, and it holds the rubber end cap on - it did not come out when I pulled off the rubber end cap!). However, with patience and a pick I was able to remove the circlip. Keeping the plunger depressed while doing all this makes life much easier. To do this, I put the Lever bolt back into the body of the M/C and use it as a fulcrum to depress the plunger. You could also just use a thin enough socket extender, or anything else. It is a bit awkward, but patience will prevail.
Anyway - I was just psyched that I was able to do actually do it after reading about it and stressing about it for all these long months here on the forum! So I hope none of this is old hat and that it will get you further along in your amazing build.
Keep us posted!
Gersh