BigBlue,
The one I was refering to is on the groove for the O-ring on the inspection cover. It is a little notch between the inner O-Ring and outer O-Ring that allows some venting through the foam piece (breather filter) and the atomosphere.
If you put the O-Rings on without RTV, it will allow it to breath, however due to being a PITA with the O-Ring getting pinched, especially if using an old one, many, include dealers will install with Gray RTV to hold in place.
There is also a vent hole on back side of inner primary a little higher, that allows for venting. The one on back side may be more for fail safe, not sure. It is located between engine and tranny and is up near top. Looks sort of like a nut but with a wire screen in center to allow for vent.
What I can say is that initially I would try to re-use my O-Ring on the primary cover and it seemed like I got more leakage. The last couple of times, I just buy all the O-Rings including the outer primary cover one, drain the cover, pull it, clean it all up and inspect, adjust the chain, put new O-ring on with out RTV, tighten to specs, then same for inspectins cover, fill with 32oz Rev Tech Primary fluid and go on my way.
No leakage whatsoever since I have started doing that. Occasional very fine sheen near inspections cover from venting, does not even get enough to require wiping off to prevent a drip, though I do anyway. Also such mainly shows up when I have put on a few hundred miles or more.