To much oil

Yeah definately not, your gear oil is in your clutch case which is seperate from the crank cases. The only way it would get into your crankcase or drip from your exhaust is if your right side crank seal was leaking. But you would definately know if that happened due to the excessive white smoke that would constantly be coming out of your silencer. Too much oil in your premix could cause oil to drip from your exhaust tho. I use to have that problem, SWITCH BACK TO 40-1 WITH ME HAHA !
 
Can having to much gear oil in cause it do drip out the exhaust port

Having to much gear oil in cause it to drip out on the exhaust.

If you have too much oil in the box it will expand and force it up the breather and drip on the exhaust.

A leaky gasket is your problem, most motors will drip black spooge from where the exhaust fits up to the jug, if the seal is not perfect.

More oil in the mix will not make the motor leak oil from the joint, I run 25:1 on a richly jetted motor, and never a trace of spooge.

As to 40:1 with conventional oil, if you are not WOT all the time, there is not enough oil in the mix to provide adequate lubrication for a 200cc motor.