I wonder where
@smahaley car was stored before he purchased it?
I do recall that the original Fiat grease used on wheel-bearings etc. (iirc Fiat MR3, probably made by AGIP, an Italian Oil Co.- you might see their logo on F1 Ferrari cars, it also used to be on all the Fiat and Lancia Rally cars, back in the day) had a very fishy smell, maybe the fish who died to make this grease got their revenge!
If you saved a sample of what came out of the comp. valve when you pulled back the rubber boot, you could have it analysed by a Chemist, maybe someone at a College or University Chemistry Dept. who is interested in old cars might be willing to help? I believe there are now devices, I think they're called Mass Spectrometers, that can quickly analyse a sample of any substance.
Or else, it'll have to remain forever, one of life's little mysteries.