[polman500]

Did you check the oil level in the gearcases (front and rear) as well as the tranny? The vent lines from the gearcases run up around the steering shaft and if they are overfull may have puked out some when running at high speed.

 

[polman500]

Hopefully your front gearcase isn't full of water and that's the reason it was puking up through the vent tube.
Check the integrity of all the vent tubes from each gearcase while you're checking stuff. They can get knocked loose or broken sometimes and then you'll intake water and mud inside... Not good! It's also a good idea to drain each individual fluid into a clean pan so it can be closely inspected for contaminants and metal particles. Inspecting the oil is the best way to keep an eye on the internal condition of the various gearcases.