Sorry about the long delay. I had to go out of town (only to find things in much worse condition when I got back...)
The leak is coming from the area that the light is falling on right below the log:
And here is a close-up:
I'm getting ready to haul out the boat, but would like to get a better sense of the extent of the job beforehand. Looking at the log, it almost seems like a through-hull rather than the typical glassed-in arrangement. Can that actually be the case? If not, how extensive is the replacement job?