Thought I'd follow up with the repair (pics mostly) - just in case someone down the road runs into a similar issue...easy as it could be to address this:
First off, I removed the inside trim ring. It didnt take long to figure out where the leak was coming from! As a rule, daylight in a wall penetration is a bad thing:
On to the outside where i removed the vent assembly and scraped off the original butyl tape
After cleaning the area around the vent with rubbing alcohol to remove any wax residue/schmutz/whatever I put some fresh butyl tape around the opening...of note, my version i put the "meeting point" of my new tape in a LOWER corner, and not in an upper corner as was done at the factory.
And back goes the vent assembly. the white goo around the screw heads is from caulk i added to the screws about a 1/4" from setting them home...belt and suspenders.
After that i put the trim ring back on the inside (which i have a picture of, but I'm limited to 4(?).
See...easy as pie. Hope this helps someone else down the road.