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I've got a BMS can and, like the OP, it seems to collect water with just a little oil.
Seems to me that's still a good thing since that's condensed water vapor that would have mixed in with the oil and then worked it's way all through the motor.
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2012 135i Mods: air scoops, CP, K&N filter, PS1, ADE FMIC, BMW PE, JB4, 1M front body, full M3 suspension front and rear, M3 brakes front and rear, M3 rear subframe and LSD
Owned so far: 88 M3 x 2, 95 325is, 95 M3 x 2, 06 Mini Cooper S, 08 335 xi, 09 Z4 35i, 01 M3, 12 135i
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