Hydraulic oil will damage the belt. As far as the exposed wires on the air pump clutch , You should either replace the clutch coil or disconnect it from the connector further up the wire.
Regarding the air pump;Did you listen very carefully for bearing noise when spinning the pump pulley? Air pump pulleys lock up frequently due to bad bearings. If they are noisy order pump pulley repair kit #104 140 02 86 it comes with pulley, clutch,and coil with wire attached. List price $470.00 but I'm sure you can shop the net. If you can't find one anywhere PM me.
Good luck Mike