Thanks for the input.
I don't think it is a dex-cool issue as there is no sludge showing in the reseviour or rad. The coolant system was just flushed and oil was found in the system and continues to show up. Also, all the coolant hoses (rad, heater hoses, etc) are shiney on top and I'm told this is due to the oil breaking down the rubber and as such this problem has been going on for awhile. The system was flushed 4 or 5 years ago with new dex-cool.
Does this sound like lower intake manifold gasket as some have suggested or o rings in supercharger?
Does that help to narrow it down?