Honestly it looks like the seal at the differential is leaking. The grease in the tripot joint itself is much thicker than what ever fluid that is (probably diff fluid).
Here is the thread at GMTnation (
http://gmtnation.com/f79/leaking-front- ... tial-2098/) I made when I needed info on how to change the seal. It's pretty easy and strait forward. Just know that the seal is a GM only part. Auto Zone has them but they are too small and leak right away.
-Wahugg
Edit: After further looking at the picture it does seem that there is grease from the tripot present, but it also seems that the tripot itself is covered in the thinner differential fluid. The edge of the seal in the first picture does also appear to be wet. If it was just raining in your area and everything is wet due to water then disregard, but otherwise I would check the fluid level, and pull off that shaft ASAP to re-grease and reseal the tripot, and further inspect the differential seal.