It's weeping, romped it up while on a run today to get me through. I sure there is a better replacement, can't find it. Anyone help.
The thread seal has probably perished. Just get some speed bleeders off ebay or if feeling flush some Stahlbus jobbies
If there is little or no damage to the threads, remove the nipple and put a dab of pipe joint compound on the nipple threads to seal the threads, and it'll be soft the next time you need to loosen the bleed nipple for the next bleeding (hold a finger over the hole to keep the fluid in the brake). If there is damage to the threads of the nipple, you can buy a replacement at an auto parts store or try the nipples with the check valve inside, the Speed Bleeder.