As already stated, the sprocket is held with a pin. In this case, it looks to me like the sleeve it is pinned to is loose (and about to fall off). That sleeve is held to the end of the axle with a bolt directly into the center of it. Looks like that bolt has loosened.
The seal should be around that sleeve in a reatainer that is held by 4 bolts. Looks to me like the retainer isn't even there. Go to the CaseIH site and look at the parts breakdown for the final drive to see how it should go together and what is missing.
Your tranmission level is high enough. I would suggest you go to the drain plug and crack it open enough to see if water comes out rather than oil. If there is water, you need to drain it and start with fresh.
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Today's Featured Article - History of the Nuffield Tractor - by Anthony West. The Nuffield tractor story started in early 1945. The British government still reeling from the effects of the war on the economy, approached the Nuffield organization to see if they would design and build an "ALL NEW" British built wheeled tractor, suitable for both British and world farming.
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