<VV> Steering component trickery Suspicious Blob

[DIODATO]

After having my FC for 3 years I finally started "living" under the chassis.
When I first got it, I took it to a mechanic for a check-out. He said that
it was OK. Unfortunately I don't think so! It seems that a previous owner
may have used some type of hardening compound around the steering joints and
then greased around it, to cover things-up. It seems to be a dark blue
color. Is there such a thing, or am I really just seeing old, hard like body
filler, 40 year old grease?

Thanks,
  Dio