If its just leaking like that sitting there, I'd say thats not OK. When your boat is sitting in the water the pressure on the lake side is going to be a lot greater than a small amount of water in the bilge. Meaning its going to leak in a lot faster than its leaking out in the picture!!
Dude if the shaft seal was leaking bilge water back out like that you would already be on the phone with a salver and your insurance agent.
Look at your stuffing box (shaft seal) there is a hose attached to it that feeds the seal cooling water from the engine. Either a manifold or cooler. Either way its just the engine water you see draining out through the tube.
Now that I look at it... you probably have a dripless prop shaft seal that has a water hose from the engine water jacket.. the hose bleeds water to the seal that acts as a lubricant for the seal.. this is normal..