Re: what is this and why is it dripping black ooze?
i had the same problem they just go bad , soon you will need to replace them you will loose spark , mps-200 they help give spark to 1-4 cylinders and 2-3 cylinders
that black goo is the insulation around the coils of wire inside the coil case. the coil may function for quite a while even in its disgusting state but it is on its way out.
grab a set somewhere while you have been warned that they are expireing, the problem is likely being caused by heat and or a bad ground or secondary wires.
Check for resistance (Ohms) on the secondary wires (Lil wires to the coil) I'm not aware what a 'good' reading should be, but you can find out by measuring Ohms on a piece of new wire of the same gauge and length... if the orignal wire has too much resistance the coil will run way hot and melt. Also, check your polarity, most coils will run backwards, but they drop in efficiency quite a bit and wear out VERY fast compared to a properly wired coil. Of equal concern is the primary wires (plug wires) although they generally will just make the bike run like crap when worn out. Also, check the manual cuz I think the Ohm ratings for both can be found in the book.
Those are the ignitors, they probably say OKI on them. There are also NEC ignitors.
Some of the early ignitors had a bad incapsulating goo in them that would drip out over time and under heat. Many of these never quit working, they just made a mess. Some guys actually re-filled the backs with epoxy like JBWeld and they still work fine.
That encapsulating Goo seals out the moisture and holds the guts in the aluminum housing. It has no affect on it's function.
A coil with a shorted primary or just leaving the key on for long periods of time will over heat the Goo and cause it to run out but many break down over time also.
Clean the inside edges of the aluminum so it'll have a good place to stick then fill it with an epoxy like Genesound said.
Re: what is this and why is it dripping black ooze?
Wow that's pretty low. I thought it would have a higher rating than that but after all epoxy is plastic.
It will probably work but JB Weld would probably be better.
I work in electronics and we use a black epoxy to pot the electronics. I'll try to remember to see what it's rated at on Monday.