This is an intesting debate.
I genuinely have forgotten whether I left the sheild/cover in or not. I know I certainly opened it up on the clutch facing side, but I think I left the worm drive side closed. However, that said, I always inspect and re-lubricate the tacho worm with standard grease when I have it apart..
I believe I did this specifically to keep oil from coming out of the engine/moisture from getting in. The grease lubricates the tacho drive so I thought that would suffice there.
You know, I think the MZ engines are quite susceptible to water/moisture ingress. There are many places that traditional oil seals aren't used but could be the weaklink- for example the clutch cable entrance is not the best, I like to put a bit of grease inside the rubber cap. Anyway, with every oil change, on both my MZ's I find it can have traces of moisture. And most people might agree. I have tried my best to keep the engines moisture free, but alas being a gearbox, If moisture does occur, it won't really burn off as it doesn't get hot enough relateively to naturally in a 4t when moisture can occur.