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Yes, just remove the wheels. Remove the power trol/power lift. Then remove the cotter pins from the bull gears and slightly loosen the nuts. Take a large wedge to drive in between the nuts to push the axles outward. Keep loosening the nuts and driving the wedge in more. If you have one axle not moving loosen the nut only on that side to catch it up. Once the felt retainer housings are out of the housings the axles will move much easier. You will need axle seals and felts for the end. I'm betting after you see your axle bearings you will want to replace those also. They run about $100 each. I think you can get all your axle parts for $500 or so. Be sure to get all that oil out of the axle tubes before reinstallation. If not It will continue to seep to the outside. The tubes should be very clean and dry.
As for how your oil is transferring... There are a couple possibilities. One is the seal on the powershaft. It is possible that the rockshaft cylinder has cracked or the gasket between the cylinder housing and rockshaft housing has formed a leak. Check the whole housing for cracks. Anyting is possible with 60 year old castiron with 50 years of neglect.
When I think of "restored" I think of a tractor being restored to its condition when it left the factory, which can be expensive.
I guess the word can commonly be thrown around and can be translated as new paint and maybe a set of pistons and rings. I have a late B like yours which has had new seals and axle bearings in the rear and a paint job, but I'm afraid it still does not qualify for "restored" It is simply an old B with a Paint job. Just something for thought... Not trying to push your buttons.
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