Hi David
I've got a Bantam 2000 which used to do the same when run fast or for very long periods, Following a posting by Gray Meek about his mill gearbox leaking caused by it pressurising itself as the oil warms. I carried out the same experiment as outlined in his post, namely putting the finger cut from a nitrile glove over the filler with the plug removed, and it did inflate before it popped off, so I drilled a 4mm hole in the headstock filler plug and it has not done it since.
According to the manual for mine there are only labyrinth seals on the spindle, not garter type seals.
Dave