Appears to be no sign of moisture ingress.
I had a word with yam mechanic. he says that the crankcase breathes through the airbox.
I'm going to do a copression test, as he says it may be the rings going.
For information, he says it is more normal to happen when over filling with oil... the excess just gets blown up into the airbox. But this not the case here.
i hope its just the rings, and not the valve guides. I'm off to the TT Races on it in 4 weeks so I need it on the road by then