Here are a few things I found on other bike sites, for the same problem:
1. In cooler weather, the regular gear oil has a tendency to retain more heat, and foam up, resulting in the foam exiting via the vent cap.
Switching to a full synthetic rear gear oil (I use AMSOIL) will significantly reduce this foaming experience. (may not eliminate it completely on really cold days, but, will definitely reduce foaming by 98%)
2. I`ve had this happen to a couple of my 650`s, only in cold weather and only for the first mile or three (until the oil warms up).
It`s been posted on here before as well, so it`s not unheard of on the 650`s with the four bolt type final drive.
Dunno what causes it.
I used to have oil flung onto the sidewall of the tire.....
I solved mine by extending the breather up by a couple of inches.
Honda state SAE90 hypoid oil above X degrees, 80 below X degrees - look on the final drive casing for the info.
3. Cold will do it to the oil up north and down here in Florida the oil expands and comes out the vent at the top. In some shops the techs just drain and fill and then the Wing owners find oil on the floor thinking that they have a bad seal in the final drive.
The hose and turkey baster work well.