It's turned a very gangrenous green colour, can't be well at all !
No, it is normal chattering of the fairing, you will need to remove, grind it off, rebuild it with some epoxy/glass and re finish.
Not a bad job, you may be able to secure it better on re fitting, but they all chatter there.
"I add a little excitement, a little spice to your lives, and all you do is complain!" - Q
Donated twice in 2017