Question
Jim,

We have an old maple in our front, and I noticed a wet streak in the bark about 4 1/2 feet up.  The streak is about 2' long.  Running my finger against it, the bark was a little soft, and I noticed small 1/4" silver worms. Is this Wetwood? What do I do to get rid of these worms and how serious is this??  I CAN'T lose this tree!!

Answer
This sounds like a insect called a borer. I would spray the area with an insecticide called Merit. This will control the insect and then the tree should heal over the wound.
Wetwood is an oozing of a foul smelling liquid caused by a bacteria. This does not sound like that.