Hmm... I could probably borrow one those light-up car endoscopy-esque scopes from a co-worker... First I'll check to see if that vent leads to the gear case or the bell housing. If it's the latter, I am definitely going to use it.
One of these guys:
2012 FF Ti HB Kona Blue, Built 5/24/2011, 401A + Ti Handling Package, Parking Technology Package, Winter Package, Moonroof, and MFT w/NAV at v3.6 106k miles and counting...