cheers, i did put that stuff around the hole (in picture) and more water came out than normal.
Im just not sure if that blowing from the gap is causing any of the buzzing/vibration?
Its a great bike and it good condition and its pretty much the last niggly thing i need to sort, but the buzzing it getting pretty bad and block out the general bike noise/engine noise and sounds terrible.
I might have a look and see if i can pick up another exhaust  as they seem pretty cheap on ebay.

I had a little look at the bike at lunch and checked a few little nuts and bolts and stuff and found some sealant (kind of like blue tack) to try wrapping around the bottom of exhaust.
I tried this as you can see from the pictures just to try running the engine for a few minutes, the vibrations did seem to cut down alittle bit only a bit, but i noticed that after running the bike for only a few minutes that it was producing a bit of water dripping from the hole under the exhaust, its a bit hard to see in the picture but i cant see how the bike would normally produce this much running normally? i ride to work in the dry this morning and it hasnt rained since then? unless it could be moisture build up from when i stopped using the bike until now?
Still a bit stumped as to what it is then?

I think a few people who seem to have had similar experiences have used silicone? they say a small bead of that around the pipe seems to stop the blow, as long as you leave the drainage holes underneath open.
Might be worth a shot i guess, I will have a look at lunch time see what i can come up with here.
I think i might be trying to attack the problem from every angle at once rather than maybe trying to eliminate each one.

Thanks for the responses,
I think i maybe just noticed the smell and the white exhaust smoke one day but the bike had only been running for a few minutes, so like you say just warming up so probably just that.
As for the vibrations i am starting to think its got nothing to do with the exhaust.
On Saturday i stripped down the nose and checked it was all tight and fitted properly after having a buzzing/vibration starting at 3500 - 4000 revs and stays after that.
I have done the headlight mod to remove the metal cone thing over the bulb and more securely fitted the indicators, but still cant figure it out, it still seems to vibrate just as much, when i am riding and put my hand on the tank at over 4000rpm you can feel the vibration on the tank, i am not noticing anything to bad through the foot pegs although my right hand does take a bit of a beating and tingles when i get to work, which is only about a 20 minute ride from my house on normal road (not thrashing it on motorway)
I really enjoy my fazer and only bought one after long time off biking and had one years ago, but i just want to iron out the little niggles i have.
I took it to my local garage last night and they guy there said the exhaust seems fine and not blowing, the pipes are in good and no damage or rusting really.
The garage revved it up on the spot and said he couldnt hear anything but you can still pick it up when its stationary but its still there when its standing just maybe not as loud or easy to hear.
Like i said before its like a buzz/vibration at anything over 3500rpm, bit hard to explain but i have tried holding things and poking stuff while riding incase its a loose bit of fairing or something but nothing yet.
As you can see i dont really know a vast amount about mechanical bits on bikes so any advice would be helpful, even if its just "fazer do vibrate" lol
I will try my best to see if i can get a video of it, although whether you can hear it in the video is anyones guess?
thanks