That bolt and pin flopping around is just doing what it's suppose to do. The pin just keeps the drip hole clear of obstruction, while the drip hole lets moisture and oil come out of the bellhousing.
The fact that you have oil running out of it, means that you have either a bad rear main seal, a bad transmission input shaft seal or a 4WD output shaft seal leak. However, look at the color of the fluid, I would say it's the transmission input shaft or the 4WD output shaft if you have the 4WD model. If it was the rear main seal, the oil would be darker.