It's coming from the compressor housing, what would cause this, a bad seal or something? Is it something I could fix myself or do I have to send it off to be repaired?

There should be a big o-ring in there...take the c clamp out and pop the housing off and see if it is damaged...measure the old ring, or the ring landing and let me know that size and I'll see if I have one...I work a a machine shop repairing and machining natural gas compressors valves so I have just about every o-ring and if I dont I can get one. Also it looks like someone had taken a housing off a turbo that originaly bolted down and machine the lip to fit a c clap in...not a good design anyway IMO.

http://www.2gnt.com/index.php?d=Rebuild%20a%2016G%20Turbo
I have a s16g and I don't see the o-ring you're talking about in that write-up. Guess I'll just remove the compressor housing when I get home and see what I can figure out from there :shrug

*Edit*
Would spraying that copper gasket stuff on the contact surfaces where the compressor housing and center section meet help any with this problem? Cause I dont see any kind of seal to prevent leakage between the two in those pictures.

copper gasket spray does not seal anything, its used for heat transfer to limit hot spots.

Thats stupid why wouldnt it need a large O ring there? I dont care how flat the peices are machined with only a snap ring holding it in place they are going to seperate causing boost leak. Using a spray gasket or silicone that you have to squeeze wont handle much pressure if the housing seperates from the compressor under boost...I'm out on this one...sorry I couldnt help. good luck