To tighten the shock cap lightly and very slowly push the shock shaft in and out. If you have too much oil in the shock body, it will seep out through the shock cap or the hole where the shock shaft sits. Once the excess oil is cleaned up, tighten the shock cap and your done. Having too much shock oil in your shocks could result in your shocks blowing a shock cap after a big jump or quick compression.
When it comes to painting bodies, "bleeding" is the result of paint masks not be pressed down properly and paint seeping under. Air bubbles are a common cause of bleeding.