In that thread I am pretty sure there is all the info that you need...
It is a water/oily mix, most put a catch can so it doesnt drip, some people just have the filter and then down to a bolt plugging the end of the hose, and there are some that run it with no filter and no catch can or bolt plugging it allowing it to drip on the ground.
I promise if you read that whole thread, not just the pics there is plenty of info.