It's been a while since I've replaced one and since I have to do it now, I was wondering if lip on the seal should be oriented outwards or inwards once it's installed?
What's the proper procedure of installing it with the timing cover on? I tried to slide it on the WP gear shaft and it didn't work..
Thanks!

 

I changed mine with the timing chain cover still installed. I just used a flat head screw driver to pry out the old one and then used a rubber hammer to tap in the new one. The seal should go to the inside and all you should be able to see is the medal ring from the colar that holds the gasket when looking at it installed. If you have it the other way, your going to have a heck of a time getting the water pump shaft in there without forceing it. good luck and I hope this helped out some.