No, turbo itself should be just fine with the boots loose, just you wont see boost. Yeah, I'll take pics.
I pulled my turbo today, getting ready to rebuild it and I found that it isn't draining very well. I filled it up with oil to the top and the oil didn't really drain, just sat there. Izzat normal?? possible reason of failure??
It should drain faily well. Maybe some crystalized oil burnt in up there...and maybe why seals went bad.
I've never seen a Banks apart, so don't know what if any oiling holes, piston seals or what's going on in the shaft area specifically, but oil is predictable.... too much constant heat, like low to no oil circ, charrs up and crystalizes, no flushing of dirt... process builds faster.... heat backs up and out from central point of problem and continues until failure.
In the case of turbos.... they're hot from the git go, oil is the primary coolant in the bearing. Sure it's offset with some cold air, but heat usually wins.
Always easier to heat than to keep cool.
Check the drain line too, it may be all sludged up. Lack of flow from either end means no flow to the important parts... bearing/shaft.