Why don't you just flake off the loose stuff and put some clear caulking in it as a temporary fix, that way you don't have to worry about moisture.

 

I bought my base 2007 black coupe in October of 2008. In October of 2009, I brought my baby in for the first 7500 mile service. At the time I told the technician that my spoiler would squeal a little bit on hot days when it deployed. I thought they would just lubricate it. Well, they replaced the whole assembly including the part on your car that is peeling. This kind of annoyed me because I had a nice Karmann decal on the housing. Anyway, the reason I'm telling you this, is that it could, indeed still be under warranty! Before you do anything, bring it to the dealer to see if they will cover it. Mine was fully covered for a little squeal.

 

Bill--- The clear caulking is a good idea. I just haven't gotten around to it. Besides, my car will never see another drop of water again. I haven't washed it in about 4 months. I did the clay bar and waxed it. When I drive it I dust it off and cover it back up. One of these days I will buy a spoiler unit. Or as Winston suggests I will ask the dealership. I have the max care warranty for another 2 years so I have plenty of time. Not sure if they will cover it but there is only one way to find out. I am just not a fan of bringing my car to the dealership. I would rather buy a spare and just replace it myself when the time is right.