The issue at hand here is not cholesterol, but how oil affects an oil seal. The question posed is whether the oil level in the axle contributes in some way to the life of the oil seal.
Oil seal design has changed little, if at all, in 50-odd years. The mere presence of oil against the seal does not cause a leak. That is an undeniable fact. Did you know that the ring gear feeds oil to the pinion gear and its bearing through a port in the casting when rolling forward? What difference would 1/2" lower oil level have on the amount of oil against the pinion seal? The temperature and grade of the oil would affect this volume orders of magnitude above the 1/2" difference in oil level. The pinion seal is the same seal technology used in the axle seal.
The point that I am making is that the oil level being specified at 1/2" below the fill hole has nothing to do with the prevention of oil seal failure. End of discussion. :--)