TODAY is a Great Day to visit our Store and order the parts you need for your truck!
My problem isn't bleeding brakes...
...Since I wouldn't know where to find replacement seals, I'm definitely replacing this thing.
Here's one place that has them: http://www.carolinaclassictrucks.com/81-87-GM-FS-Truck-Prop-Valve.html
If you're going to replace it anyway, tear it apart. The o-rings may not be that difficult to find - Napa (et al), local hardware store, Harbor Freight.... At the very least, it'll be educational, and you might surprise yourself.