Yes, you should change the lube periodically. I forget the service schedule for it. If it's grease, you really have to take it apart to do it. If it's 90wt and you have the swivel housings with a drain, you can drain and refill. If it's leaking I'm guessing you have oil in it.
Some people replace the large seal by removing the old one with everything in place, cutting it and taking it off. The very carefully cutting through in one spot on the new one, twisting it some so you can get it over the small part of the swivel ball and installing it with the cut at the very top, gooping it with something like permatex. I personally haven't tried it that way, but the people who have say they don't have any problems with leaks, which sounds reasonable. YMMV