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IMO - It wouldn't leak because the O-Ring that fits inside the taper will be sealing against the OD of the upper tube which slides down beyond this point like a funnel. Oil would have to take a tortuous path down the tube, up between the tubes and past the O-Ring to leak.
But, if I'm wrong you may be required to pull the tube ASM apart to clean up the oily mess to get the RTV to seal...... May be good insurance now to apply the silicone at assembly just to be sure.
I'd change it if it were mine. There isn't a lot of oil there, but with the vibration it's hard to say what will happen. Including the split getting larger.
If you don't have a replacement, put a little non hardening sealer on that spot when assembling and rotate it to the back a little if you don't want it to be seen.
imo - may be good insurance now to apply the silicone at assembly just to be sure.
never use silicone sealents on your engine, it will end up clogging an oil gallery and feckin ya motor, change the tube for a good one ($3) and fix it properly
Use corks instead of an o-ring there and it should be fine.
If it's a situation where a bit of sealant is the only way it's gonna seal up use Hylomar not silicon. Some aftermarket lifter blocks that front exhaust tube it's the only way to get it oil tight.
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