That ring is just a dust guard. When the axle is properly installed, it should sit flush with the differential housing - making it somewhat inconspicuous. It should not cause any leaks since it's purpose isn't to seal, although I would ask for a replacement axle if the one they gave you is missing it.

As for the leak... when you remove the CV axle, diff oil will start leaking out. What you're experiencing could be just some residual oil that came out during the install, that's getting flung around now. I'd keep an eye on it though.

<small>[ April 17, 2003, 09:18 AM: Message edited by: phong ]</small>