It also has the same location as my 266 vent, but the 266 has a different vent I think(picture below).
It does not blow up on screen very good, but from what I see, is lots of holes, in either a plastic or rubber plug.
This is also a breather hole.
Just remember, if no breather hole, or if blocked, no oil can come out. Same as a petrol/gas tanks, all need breathers.
If you pull out air without air getting back in you suck the thing into itself, or collapse it.
No need for a science lesson on physics, but all reading this know this basic fact of our planet and how it works.
For something to come out, something has to go in to fill the space, as in this case air fills the void of oil.
So a little leakage is okay and means the internal compartment inside is venting.
Run the saws and after a full tank or so, it may show a little seepage, this will be fine.
All saws will leak oil as is the nature of gravity.
The oil on the chain and bar will find its way to earth always, so remember the chain and bar have oil on them when you switch off the saw.
This oil will always run down to earth, pulled down by the force of gravity to the centre of the earth.
Atmospheric pressure will also enter the breather hole, and will also push out oil at the other end sometimes, so will show up as what people call a leak, but is normal.
New parts, oil pumps, pipes etc are better suited to stopping this happening so fast.
Some saws have this happen; some saws do not, but just know it does not matter if only a little dribble over time.
This is why you do not leave a powersaw over time with oil in it without putting the saw in a place that the oil can seep out and be captured.
Same with some saws over years will start to seep petrol/gas, again, climate changes, air pressure all come into force and play over time, and all through the different seasons.
Don't be too bothered with a little seepage is what I am saying as this is natural for power-saws across the world as they are partially gravity fed systems, and why 2-stroke engines can run any way, upside down etc...
Newer model saws are better at not leaking so much, but older saws may have this going on, it is not a problem once you know it is not really a leak, but natural venting with mother earth and different air pressures.