Is this Armillaria?

[beastmaster]

We were called in to remove a blown over eucalyptus tree. On closer inspection I noticed the grade had been raised around these trees. The beginning of the root flair was over 14 inches below the current grade. Any way The tree had beetles at one time and they bored holes in the tree(I think) and the holes were coated with a thick white film. I had never seen this before. Anybody have An idea? Thanks

 

[ATH]

I'll take the easy one:

No, not Armillaria.

(The tough question: what is it? That I do not know).