probably not good and hard to diagnose from far away ..
Have you consulted the ETEC owners group site... lots of ETEC experts and mecanics over there ( no offense to anyone )
https://www.etecownersgroup.com/?forum=136486
you can always peek at these.... copy paste the string
https://www.youtube.com/results?search_query=1986+Johnson+150+J150TXCDC+Gearcase+Seal+Replacement
well that was silly........ hopping around....morning fog
above instructions not applicable on this site
you will need to join AOMCI and become a member . the book itself is worth it :)
Nate...did you download yourself a copy if the johnsnon service manual ??
go to MEMEBERS ONLY tab.... select INNER SANCTUM....go down to LIBRARY...find GARRY SPENCER'S drop box ... open it then go all the way downn to the RED BOOK .... down load it to your PC
you can get it...
try the folks at the ETEC user board
https://www.etecownersgroup.com/?forum=136486
you can also do searches in case this issue came up before
here is one example...
https://www.etecownersgroup.com/post/etec-90-engine-dies-when-put-on-neutral-10379220?highlight=neutral+dies
check with insurance company if they will cover a 90hp on a 85hp rated boat !!! they will take any excuse not to cover damages/liabilities if something happens
oozing fuel-oil is what we are talking about.... just unburnt fuel just wipe it off it will eventually stop if only from self sealing itself as crud accumulates in the joint .
did you do search to learn about sludge....
run a cleaning product in your next tank
some like seafoam some don't ... Merc power tune or Evinrude engine cleaner may wake it up more.
thanks for your feedback :-)
2 strokes probably flush out 30-50% of the incoming fuel oil mix while in and out ports are open on the piston down stroke... it goes out and down the exhaust and liquifies residues along with carbon.... result ... oily water
do seaches on SLUDGE ....
run some small monofilament line in each orifice to garantee proper cleaning of orifices. do not force metal wire so as not to damage any calibrated orifices ex: side channel leading to the top (look closely)
see pict... bottom jet in yellow also the low speed fuel flows to the top via a small side channel which must be clean includind the idle chamber under the round dime size plug.
don't remove it yet but at least clean all orifices
(check for crud including the small side channel...
look for a grounded wire or short ..should be easy to track down
take a ohms reading while wiggling the wires around if it fluctuates you likely have a chaffed wire. if solid then the load is likely shorted to ground internally