I have two question regarding my master cylinder. The first is, in the attached picture (click to make larger), what is the valve/hole I have circled in red? it is visibly leaking brake fluid from there.
Second, where is the bleed valve on my master cylinder, or is there one?
I think that's a weep hole or similar overpressure outlet...when it leaks, it's time for a replacement. There is no bleed valve or screw for the MC, when you get a new one it needs to be bench-bled before install, then your brake lines need to be bled as well IIRC. A new MC isn't that expensive, I think mine was $47 or so.