Is this a busted U joint?
Can't see the full u-joint but that is just a cracked seal. It prevents excessive moisture and debris from entering the roller bearings inside the bearing cap. Not a huge concern, but you may want to change it in the next few months.
If the joint still fits tight between the two shafts and doesn't have any play, you should be fine. If you've got play then failure is eminent and the issue should be addressed asap.
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Pretty much what was said. IF the seal is broken, it'll bugger up the joint in time because the grease will fly out and the crap will get in. Once the joint has crapped out, you will know it due to the clunking sound you'll hear!!!




