Im not sure. The resevoir is under the back seat and it oils the top front of the front sprocket. No real heat getting to it.
It used to put a little bit onto the tyre similar to you but over the last week (noticed it on the rideout on Sunday) its put it all over the left side of the tyre
Not noticed and dry weather grip issues but I cant imagine its going to help in the wet... which I think its going to be today.
