My moggie has always been a bit of a slobber-chops when happy but she seems to have developed a problem recently. One eye is rather watery and when she is curled up, her tail(wrapped round her nose) is soaked as are her paws-even her chest fur is wet! Could it be a sinus problem or-worse-her teeth?
Have you checked in her mouth? They can get runny eyes and slobber even more if they have tooth problems much the same as we do. Is she eating and otherwise ok? One of mine had teeth problems (she now has only 1 tooth!) and she used to get very anxious when trying to eat. If she is sneezing as well she may have a grass seed or something stuck up her nose.
Apart from a teeth or gum problem (which it very likely is) there are so many other health problems that this is a symptom of so its important to take her along for a vet visit.