I think your right zach.
Front or rear axle fluid leak that appears to be from the end of the axle vent hose. Most often occurs during hot ambient temperatures and/or while towing.
Recommendation/Instructions:
Installation of filter (P/N 5651682) will act as an accumulator and prevent fluid from being forced out the end of the vent tube. Install the filter vertically in either direction approximately 4 - 6" (10 - 15 cm) from the end vent cap of the hose or where convenient. Retain the filter using the supplied hose clamps and secure the filter and hose to prevent any damage.