I think that part 18 is for venting the lower gear housing, which should only have gear oil in it, and should not be under pressure. The only parts in that picture that should have power steering fluid or hydraulic fluid in them are part number 23, and parts 24-30, which are part of number 23. Part number 23 is the hydraulic control valve that controls the flow of the p/s fluid to the steering cylinders. The pressurized portion of the hydraulic circuit should not be vented. The only portion of the p/s hydraulic circuit that should be vented is the P/S fluid reservoir, and the reservoir is out hanging off the side of the engine either as part of the pump housing or above the pump depending on if it's an early or late pump.
Perhaps the control valve, part 23, is leaking p/s fluid to the inside of the steering gearbox such that you can't see the leak from the outside, and the gearbox is now full of p/s fluid and overflowing out of the vent, part 18. The only way to know for sure is to take it apart and see.
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