Unscrew the top needle valve until it comes off, look inside and there should be an o-ring. Mine was so far up in there even with a dental pick i couldn't get it out. I'm not clear if this is why mine leaks, but I figured the next best thing was teflon tape to seal it up. Without sealing, even when the toggle was horizontal (off, sump is full) it would just bleed out the top needle valve.
You can remove the toggle float by unscrewing the nut that holds it into the side of the sump. I did this to test and make sure when i blew through it that air stopped when i brought the toggle up to horizontal.
With all the parts in hand, you can reassemble the unit with teflon tape, and try out the flow rate, and check to make sure the flow stops when you push the toggle valve to the horizontal position. When i had it doing what i needed, i reassembled it back into the sump. I hope this helps, I should have taken some pictures last night!