Hi Jim, the green stuff is pretty normal for bronze in the marine environment, so I don't worry about it. What is bothersome is when the fixture's moving parts (box, locking nut) become seized. That is what happens to ours shown in the photo below.
Spent over two hours trying to loosen the locking nut so that I could adjust the box a bit tighter to reduce/stop the sea water drip. The box would rotate, but the stubborn nut just would not budge. After soaking and tapping a number of times I did finally get it to move counterclockwise. Then after working with it I finally got it to do a full rotation clockwise.
My plan now is to apply a coating of copper-based anti-seizing compound on the threads to help reduce the odds of the fixture seizing up between adjustments, usually every other season or more. Someone may have a suggestion as to eliminating the green stuff, but no harm no foul here.