The boiler treatment is usually alkaline, so what happens is that the oil gets converted into soap and the boiler primes, which is of course highly undesirable. Some steam launch plants do use cylinder oil. Usually absorbent material is used in the hot well to absorb the oil. There are a number of things that people have tried, including paper towels. Also the hot well can be constructed as a labyrinth so that the water has to go under a number of barriers to get from the inlet to the outlet. Since the oil will float this helps to prevent it getting to the boiler feed.
It is also possible to put an oil separator ahead of the condenser. I have experimented with a centrifugal type…it seems to separate oil in bench testing, but hasn't been tried under proper working conditions since the boat is not finished yet. The principle is that the exhaust steam pipe (about 1 inch diameter) enters tangentially into the side of a larger tube, about four inches diameter. The large tube is vertical and the tangential tube enters near the top. The bottom of the large tube is formed into a funnel shape with an oil drain at the bottom. The steam exit is out the top, via another 1 inch tube that protrudes coaxially partway down the large tube. The idea is that the steam entering tangentially will whirl around inside the large tube and the heavier oil droplets will be flung against the outside wall and run down to the bottom. The steam, being lighter, can make it around the turn to get into the coaxial exit tube. Some water will also be collected in the bottom, this can be minimised by insulating the whole affair.
Most steam launches that use lubrication don't seem to worry too much about oil in the condenser. I presume that it would not hurt to flush the oil out fairly often, maybe by blowing a bit of steam through. They are usually keel condensers. So long as there is plenty of area a little oil will not hurt too much.
The other approach to consider is to run the plant on wet steam with no oil. The water has reasonable lubricating properties. With a triple, you may find that the last cylinder is not doing a lot of good because the steam has mostly condensed before it gets that far. Small compound engines don't gain much efficiency because the heat loss in small cylinders is higher.
You could find it useful asking about this on the Steam Boat Association web forum.
John