I have always thought that the purpose of the oil slinger is to sling the oil on to the camshaft gear for better lubrication. But I guess I have been wrong about that. It seems that the oil slinger is only fitted on engines that have the crankcase breather on the timing gear housing and it prevents oil from escaping out from the breather pipe. Any opinion about that? Am I right or wrong?
Grani,
I can't specifically help you about this particular "oil slinger". I have no experience with it at all.
When you first posted about it here, my initial reaction was, "the engineering purpose of an Oil Slinger WAS to prevent oil getting to where it would be a problem." They were sometimes an added item and sometimes integral form on the component.. Often used near the end of a shaft to prevent an excess of oil getting to seals of where a shaft passes out of a lubricated enclosure.
They could well have been used to direct lubrication, but I can't recall such cases.
But I guess I have been wrong about that. 
It seems that the oil slinger is only fitted on engines that have the crankcase breather on the timing gear housing and it prevents oil from escaping out from the breather pipe. Any opinion about that? Am I right or wrong?