just bought a 92 88hp spl johnson....i noticed it had a little milky water in the lower unit when i drained the fluid, i noticed that the screws didn't feel all that tight when i loosened them up, when inspected the o rings, they looked to be in good shape so i filled up the lower unit with fluid and went to the lake for 4 hrs, got home and checked again and there was a little milk still coming out but when i plugged the hole off and inserted a new tube of fluid and shoved it in until clear fluid was coming outta the top whole...the little bit of milky fluid that came out the 2nd time, i am wondering if that was what was left over from the first time i drained it???
