Water coolant leak!!

Looks like u gone need to clean that motor first then get a chair some time and sit and watch to find the leak.

 

Kinda amazes me you've been driving for 11 years, yet don't know an air compressor when you see one. Volvo or otherwise.
Who put the gobbledy-gook sealant on the compressor outlet fitting? This fitting typically is a flare or o-ring type that ANY sealant or"substance" should NOT be used and will cause problems, rather than "fix" problems. I take it this is where the leak is?
The U-shaped coolant hose looks rather swelled also, in the pic.
If the leakage is rather constant, and is coolant, you possibly have a cracked head/cylinder or bad head gasket in the compressor, allowing coolant to enter the air chambers.
If the "leak" is merely an infrequent drip of plain water, that would indicate just condensation/sweating.

 

Yup...i agree.. after blowing the pics up it appears to be red coolant? He said water tho. And is that a one day leak or one week leak? How is the trk running and how is the air compressor running?

 

pull or turn on your air tank drain valves, what color is spraying out.

 

Yeah thats the main air line. You couldnt tighten the nut up? Those air compressors have oil in them but mine leaked once and the oil was a black color. I gave mine a quarter turn and been fine for 3 yrs. if thats coolant in that line you may have problems my friend.

 

leak might be above and running down, try putting tape on and block it working up till its dry.