The story: after returning from a brisk ride around the neighborhood Saturday, I noticed (first) oil specks on the back of the seat. Then on the flipper, then mass quantities on the right muffler, swing arm, and tire (!)...Dodged a bullet there, I'd been zipping around twisties like I was 19 years old just a few minutes before. Oil dripping out on the floor, too, from bottom/back of right cover.
I eventually pulled the cover, another big gloop of oil hit the floor. First thing I noticed was the clutch rod seal was standing a little proud of the sprocket nut. I just pushed it back into place with my finger. Question 1: could it have been stuck to the clutch lifter and pulled out a little when I pulled the case? Or is something else going on?

DSC_0456 by Lee's CB, on Flickr
That grape looking thing is a Jujube fruit from a nearby tree; there were four or five in there.

Cleaned up with clutch rod seal pushed back into place.
Question 2: I discovered I could wiggle (rock) the sprocket just a little, a mm or less. I'm thinking it needs to be tighter than that, right? I had a similar, smaller leak on my Hodaka that I solved by tightening up the sprocket nut.
I've got it cleaned up, it was much nastier in there than the photos suggest. I'm going to pull the sprocket and inspect the seal behind it for visible damage, but before I do I'd like to turn the motor over without starting it to see if I can spot the leak for sure. I'd drop the float bowls to assure it wouldn't start; I think cranking with plug wires pulled might be hard on the electronic ignition. Questions 3: Any problem with cranking engine (with electric starter) with the cover removed? Wouldn't the clutch rod seal leak without the lifter holding it in place? And will the oil pump generate enough pressure to make the leak show up?
Engine was rebuilt by LM with new seals seven years, 2800 miles ago. So question 4: If inspection reveals no visible damage to the sprocket seal, would I be safe just tightening up the sprocket nut or should I be thinking about replacing with a new one just in case?
Which leads to question 5: just how big a deal would it be to replace that seal? My experience is that if there's a wrong way to do something, that's how I'll do it, at least the first time. I've searched forum posts without finding and actual step-by-step.
I'd certainly appreciate any insight that more knowleable members here have to share. Thanks, Lee