Our hosts replied;
"It may help to see the parts book illustration showing these items.
The one is the gearbox main bearing oil seal, the other is the gear box sprocket seal.
You will find them shown in our Parts Books On-line – 2003, 350 Bullet, page 21. They are shown as item 21, and 31.
http://www.hitchcocksmotorcycles.com/pa ... _and_Gears
An oil seal is always fitted with the open side (the side from which you can see the spring) towards the oil that you want to prevent from leaking, with the closed side facing outwards, away from the oil".
Much clearer than the '93 parts book I was looking at.