RJS, you may be on to something..yes, it's leaking through the core...and I think I do have a core removal tool, somewhere. The old stem is still 10+ years old and made of rubber..(old tires were date coded 10..or even 12 years old?).
If I can fix it I'll probably end up needing a new tire at the end of next season, based on current wear (10 inch rear Helix tires don't last long). I can live with the old valve stem until then. I'm assuming an auto parts store will sell valve cores? Heck, I even have tires stores nearby..
edit: found this core removal tool and cores in a tire repair kit I have..