The exhaust deflector changes the performance characteristics of the exhaust in a minor way. You can easily compensate for any change by properly tuning the engine. I run exhaust deflectors on two MTs and a buggy. No loss in power. No problems, but a much cleaner ride.
As for the fluid coming from the pipe, that is normal. It might indicate an overly rich setting on the engine if there are large amounts, but the design of these engines lends itself to residual fuel and oil leaking from the exhaust. The only time you won't see this happen is when the engine is either running too hot or is overly lean.
As for the ARO arguement, just do not use WD-40. The other substitutes sound nice, but for the amount you will be using the price is right for the real deal.