I would only replace the fluid if it looks contaminated in the reservoir. The fluid is automotive ATF. When you remove the top mount of the cylinder and the bottom bolt you will be able to pull the cylinder away from the transom. If you see any fluid around that fitting then that is probably your leak and it is just making its' way by the sealant and running down the cylinder. If you have the EIC option then be careful not to pull too hard on the wire as you pull the cylinder away from the transom. If you do find that that connection is leaking then you must determine if it is the ferrule at the tubing/fitting connection that is leaking or the 1/8 inch pipe thread at the fitting/cylinder connection. If it is the ferrule then don't try to just tighten it some more. Cut off a half inch of the tubing with a razor blade and get a new fitting and make sure it is the type that has the sleeve that goes inside the tubing to offer more resistance to crushing so the ferrule can squeeze the tubing tight enough to seal. When you get everything cleaned up and ready to reassemble, I recommend that you... ….DO NOT.... use 3M 5200. It can make future work in that area more difficult than necessary. A good sealant such as Life Caulk or equivalent is ideal. No need for an adhesive here. Bennett designed the bolts to take care of that part. Good luck and post your findings, hopefully with a picture or two.
