Yes, there is a bushing and seal inside the torque tube that is responsible for all that tranny lube finding its way into your brakes. You can get a repair kit from
Jim Carter or
Vintage Auto Parts . Carter also has the gaskets for the ball joint, axle seals and new brake shoes. Check your axles for pitting in the seal area, you might need repair sleeves to renew the surface - NAPA has them.
Some don't seem to mind life with a torque tube, but I found it always seemed to need work of some sort, not only leaks but broken yokes, U-joint problems and other grief. I stuck it out for a few years, even rebuilt the drivetrain with Patrick's Saginaw tranny and 3.55 gearset (over a grand for those alone) but in the end, dumped the whole thing for an open driveline, the final solution and hence no more problems. I wish you better luck.