Scott--
It is differential oil leaking past the lip seal on the inside of the hub. Replacing the paper gasket and o-ring will have no effect. You need to pull the bad hub(s) and inspect the seal--I'd bet you will see the rubber is chewed up and perhaps the spring is unseated, etc.
You should also look at the condition of the machined/polished end of the axle housing upon which the seal rides. If it is pitted, scratched or scored a new seal will be of litle or no help and it will soon be destroyed. The fix is to get a speedi-sleeve that is made of very thin aluminum which you drive with a supplied or fashioned tool over the axle end, and then you reinstall the hub with the new lip seal.
Chicago Rawhide (CR) is a very popular manufacturer of both the sleeve and seal and usually the correct sleeve is noted on the seal box. If you dismantle the hub, drive out the seal and take it to your local parts house they should be able to spec it for you. While you are in there check out the condition of your bearings.
Report back.