[Whaler]

Hi
Do you have an internal hydraulic t/o or external slave cylinder attached to the t/o fork?

Either way I would say the slave end has let go at the internal seals or a cup. The fact that its actually leaking out says its doing more than just bypassing internally.

Depending on which one you have, the thing will need replacement of the seals/o-rings cups.
The first one I described is a bigger job, as it involves pulling the tranny to get at the internal T/O. Pain in the arse

If it's a McLeod, it has a rebuild kit to go with it , or can simply be ordered.
If it's an external slave cylinder, my pal its your lucky day...easy to pop off and repair the goodies that are inside it.

First of all clean up that fluid ASAP.
Its brake fluid and you know what that does to paint. Wipe off immediately and then rinse off, wash off with a cloth and a bucket of water.

Tim