My bin is the same way...plenty of holes all over, even the bottom, but no water coming out. I actually have to spray the worms every week to keep the bin wet enough. My worms have been doing just fine though so I don't worry about it :)

The drainage of a worm bin is not worm tea. It is usually called leachate. It can be good for plants and it may be bad them. Tea is made by placing worm castings in an aerated container of water with a food source(molasses) for about 24 hours. I usually use a dual fish aquarium air pump for two milk jugs. If you think more air helps you can use the two hoses on one jug. On the amount of molasses, I'm still experimenting on that.

Having allot of leachate or muddy bedding are signs that your bedding is watered too much and or the worms are overfed. There may be other things that contribute to saturated bedding.