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that is indeed a tensioner, but it's the one for the passenger side head, not the main IMS chain. the main IMS tensioner is the one that sits horizontally.
JFP is right that there is SOME risk of losing time when you remove the tensioners, but you actually have to jump a tooth somewhere to have this occur. if you set the engine at TDC, the camshafts will not move when you take out the tensioner (they are unloaded here, i have tried it).
in addition to the crush ring, there is a small o-ring about half way down the tensioner; this should also be replaced if you R&R the tensioner.
i would personally not be concerned at all about R&R the tensioner without locking the cams. i would, however, be 100% certain that i was locked at TDC.
one more note: it looks like you have some oil coming from further up the motor & this may be contributing to your leak. my guess from your pic is a spark plug tube.
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