I too had a little oil in the splashwell of my Marlin. It was coming from the hydraulic steering hoses. Check those. Easy to replace.
it's not hydraulic fluid. It's engine oil. Haven't figured it out yet, but neither has my mokanic, and he's taken 100 PHs off boats like mine.
Funny thing, years ago I was drift fishing a navy AUTEC buoy 30 miles offshore (alone), and I noticed a sheen on the water and thought it was gas.
Then I noticed a red fluid slowly dripping from one of the steering Rams.
When I motored up to head home I had no steering - the wheel just turned.
I managed to get the boat on plane and got home at 40 mph by using the boat's trim tabs to steer. Down on the Port tab and the boat would veer right.
I sent the leaking steering Rams to a hydraulic shop in Tampa, and they fixed them good and fast for a few hundred.
To the other poster halfhitch about the oil coming from the plastic breather in front on a Yamaha. Good point. I have run into that once or twice. I'll take my hand and run it underneath the breather tomorrow. If it's really oily, I'll see it.
Too much oil on the transom for the breather to be the cause IMO.
My mokanic's helper said not to overfill with engine oil, and look for an engine oil alarm. Only problem with that is the 2005 F225 does'nt have a low oil or overfill alarm or warning.