Is this something different from 'Forest Pansy'?

Yes, the sawdust-like stuff indicates it has been bored out.

I think it's 'forest pansy'. I just forgot. "Bored out" sounds like a terminal condition. Is it? Not that it's a great tree. Not long after it blooms and the first pretty red leaves appear in the spring they soon get spotted with some sort of fungus, but it's mature and it's there so I'd rather not loose it.

Is there sap oozing out of holes? I lost my peach tree like that.

No sap, just 'saw' dust and loose bark. Looks like it's been going on for some time. Red shrimp plants grow up around it and usually cover this area so I hadn't noticed it until now. This year the shrimp plant froze back. Is it gonna' die?