So I realize I am bumping my own (very old) thread, but I hope to save someone a bit of a headache. Turned out my oil leak was not the shifter shaft seal. It was my oil pressure switch and my oil pump. On a 550, apparently if your switch an/or oil pump leaks, it pools in the cover over that area which the shifter shaft also passes through. Eventually the oil will get high enough that it runs out on the shifter.
Replaced the pressure switch and the o-rings on the pump inlets and no more oil leaks.
Hope that saves someone else the headache I went through.