Distributor advance springs
It’s an auto. Here’s a video I took
It’s not the flex plate. Definitely coming from inside the motor
Just an FYI, except for very early Slantys, all automotive units were red, trucks yellow, to '69-which were turquoise. '70 & up were corporate blue in autos & trucks, not sure when but I think some '80's were black- late model. NONE were orange, so........
1) the advance plate slots are what determines the total mechanical advance. Mattax said it, if You set initial timing the same on a dizzy that puts in 10deg more advance, detonation city.
2) unfortunately You have found out the ugly truth about the upside-down type of fuel pump the Slanty uses, it dumps a ton in the crankcase w/o leaking externally until it's too late. Unfortunately, I fell victim to this once Myself, they aren't very tolerant once it occurs. Betting You wiped 1 or more rod bearings. At least it didn't throw a rod, You'll be fine, but a bummer for sure.