Thanks for the info on the caps. I took my motor apart,and sure enough one of the caps was blown open. Mine are 470 UF rated at 63V.
I have to disagree about the oil, I do not think it is Canola oil. It is a special dielectric oil that is highly electrically insulative. They use it to transmit the heat from the motor to the pool water. It is used alot in pumps like sump pumps.
http://www.pumpproducts.com/zoeller-267056-oil-dielectric-24-oz-p-536701.html?gclid=COSdworpysACFVJo7Aod7B0ALw