The oil pocket is at the front most part of the shuttle's travel on my VS2 but it's definitely there. The tiny hole was also blocked. The oiling bit is not mentioned at all in the VS2 manual but I can see that there should have been a wick of some sort in there. I made one from the heavy felt-like stuff used on the bottom of chair legs (to prevent damage to wooden floors) put it into the hole and soaked it in oil. I can see that this is the part of the shuttle that doesn't contact thread.
So thanks Joe, you probably saved my shuttle from meeting an early end (funny that seeing it's already 122 years old).
I just took a photo to show people what to look for. If I've misinterpreted and this isn't an oiling thing, please let me know
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