Clever solution for the chase and pipe.
That orange spot appears to be light surface rust. If it bothers you, sand it off and apply a coat of shiny spray paint to protect the fitting.
Most of the time, if a leak was in this location, you would see and feel traces of oil on the surfaces.
Building Physics Rule #1: Hot flows to cold.
Building Physics Rule #2: Higher air pressure moves toward lower air pressure
Building Physics Rule #3: Higher moisture concentration moves toward lower moisture concentration.