Is that a photo of THE sensor that is/was in your car?
The sensor threads into the exhaust manifold and is sealed with a metal crush type gasket/washer- see in the pic. So the oil is not coming from inside the exhaust manifold- it has to be dripping onto the O2 sensor's housing and/or attached signal wire (part of the signal wire is protected by aluminum sheath- heat shielding) from some other engine component/gasket that has a leak.
I'd bet your new VCG is leaking...it's not that rare to have happen. Sometimes it will only leak a drop or two when motor is pushed to accelerate.
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