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Yes, the hole is supposed to be open. The front seal is the rubber ring around the spline at the back of the panel (second pic)... Pry it out, pop new seal in... Use grease to lube it- done.
As far as the metal ring goes, you're going to have to figure out where it sat, and evaluate whether or not it was supposed to be fixed to any of the bearings... or maybe someone else here can tell you more (I'm not a tranny expert dude).
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