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Whilst replacing my exhaust yesterday I noticed signs of oil leaking from the diff...
Is this the 'nose' oil seal failing? I understand this can be changed without removing the whole diff, if that right?

Everywhere else on the diff seemed dry.

Cant really see the leak. If you are meaning the prop shaft seal , then you can potentially change that seal , but you need to remove the prop , strip out the flange, replace the seal and then importantly pre-load the flange and nut back on. Then refit the prop. To me, I cant see enough oil weep to worry about it at the moment. I would check the diff oil level is correct though and top up and monitor,

Not the clearest photo in hindsight. It's the darker area indicated below. It's not dripping but is wet.