Brake Proportioning Valve issue 2003 neon

ok so its leaking brake fluid from the Brake Proportioning Valve. where the rubber o ring is, i was gonna replace it, but theres a small hole that its leaking from and of course sucking air back in. so replacing the oring wouldnt help.

what is the little hole for then? when i push on the brake pedal, it spews out from it.

EDIT: its the oring that goes around the Brake Proportioning Valve not the one that seats with the threads

would this happen with a new Brake Proportioning Valve? or is it just bad internally?

Thanks