Oil is discolored and milky, condensation in oil?

On my 04 kx 250 I did a deep water crossing a while back and the oil is still coming out milky.

I have done about 9 oil changes since then.
I took off the crank case vent tube and noticed it was plugged with white gunk at the 8th oil change. Blew out the hose until it was clean.
I pressure tested the radiator (for over 1 minute 2 tests) and it held 18 psi and didn't drop at all. The coolant level isn't dropping either.

The oil sight glass fogs up after about 20 mins of riding, but the oil still looks clear and normal. Then after about 45 mins of riding the oil starts to get milky.

Does this sound like an oil condensation problem to anyone and how can I fix this? I haven't checked the vent tube again, has anyone else had this problem?
This cant be a water pump seal can it?

Thanks for any input on this problem

_JOE_ said:

What kind of oil? If it's getting aerated it will appear "milky", lighter in color. Let it settle over night and see how it looks. When you drain it let it settle for a few day and see if you get any separation. If not transfer the oil to another container and look for greyish film on the bottom of the container. If the clutch is slipping and you have aluminum plates it can make the oil look nasty too.

Click to expand...

Its shell rotella t oil. I had let it sit for days in a clear container on a previous oil change and saw no separation. However there was white foam in the breather tube and fog on the sight glass when the bike had been running for a while.

Will the condensation and oil always separate and how long will it take at most?