I've played Selmer horns with articulated G# keys on them for well over fifty years, and while there can be problems with the mechanism (if you are not normally painstaking when handling your horns), squeaking due to a misaligned G# hole has never (not once, ever) been a problem for me. It sounds to me like the horn you were dealing with had a bad cork on the tenon, one that opened enough of a passage to act as a vent under certain circumstances. Easy enough to fix if you've ever done a tenor cork before.
On all of the Selmer horns from 1950's or so forward, the hole is set in the middle of a square of wood left proud of the tenon "groove". The trick is to start applying on the far side of the tenon, trim the cork to fit the square once you get to the hole, and then finish the cork off properly on the back side of the tenon.
I have seen one Selmer horn ('part Boehm') that did not follow this dicta, instead ending the cork around the square. It had problems with the ends of the cork not being very adherent, and potentially could develop a leak at that point (but did not when I was testing it).
Most sax players who play a full Boehm clarinet like them, if for no other reason than for the articulated G#.
Terry L. Stibal
Sounds Of The South Dance Orchestra