Leaking fluid from power trim ram

I think I'm leaking power fluid from the ram but until I can get her lifted next week I don't know for sure. Was anchored off today and noticed an oil slick around the boat. Got to our mooring and it was all around us! I shut the engines down and let the slick disperse and the trimmed the leg up and down and went to the back of the boat to see a massive rainbow effect in the water. Checked fluid level in the pump and its low. Spoke to my mechanic on the phone and he thinks it's a seal gone on one of the ram arms or could be a hose split? Here's a photo of the water. Has anybody else had this problem?
Russ
Russ