True. The existance of corrosion on the outside of the block indicates that it has eaten the lateral seal . If you remove the gunk, i bet it will leak. If it hasnt already . Try searching your mobo for "soft spots". Having that type of corrosion on the outside might indicate that it has leaked already (or not), and you've been lucky.
However, i think it can be saved, even if your initial plan goes "down the drain" . But that goes through destroying the aluminium casing . But then you should be able to remove the copper center and maybe do some salvage work on it (cleaning job). A plexy/lexan/(insert plastic here) top could do the trick. It's not something new on these types of blocks , the cuplex works in a similar way.
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