Today i noticed the bottom of the car had been coated in some kind of oily stuff. Anyways I found out it was red so i thought it was powersteering. It actually turned out to be the transmission.

I have checked both the powersteering and transmission levels, and they're fine. Although with the transmission the level was about 1mm under the 'hot' line.

So im wondering whether the transmission had been filled up to much, and leaked the excess or that I'm measuring it the wrong way, or if its something else?

It seems to be from where the transmission joints the engine... i assume there would be some kind of gasket here that has probably deteriorated ?