You should be fine as long as it isn't filling up with water or making it so you can't see at night. Should be an easy fix as well. remove all of the metal clips that hold the two halves together. Grab a heat gun and heat the tar like substance that holds the two halves together as you slowly pull it apart. I heated it and stuck a flat screwdriver in the crack and worked my way around the light. Then you will want to clean it out, clean up the edges, get some good sealant and reseal the light.
COTY - 2012
Tom - 03' Bonneville SSEi', 00' Sierra SLE, 1980 Goldwing GL1100 Interstate