holden m22 leaking

hi, a mate of mine has a lj speedway car with a m22 4speed in it we have just put it back in after it spewed alot of oil from the hole in the input shaft the hole goes right into the cavity where the needle rollers are on the other end of the input shaft,does anybody know if this is a breather or something for the g/box as it ends out side the seal cavity.as he tells me after we get it all apart that he over fills the g/box so it does not rundry when racing .and that it was parked on a steep slope when the oil ran out.Thanks