I'm just going off what it looked like when I pulled my engines apart and the engine kits came with 6 umbrella's and 12 valve stem o-rings. This is the first engine I've had that uses umbrella style seals. OE, mine only had the umbrellas on the intake. The o-ring shouldn't get anywhere near the guide, so not sure why it would be an exhaust only thing.
There is something quite wrong in your picture, as the umbrella is supposed to drop down around the guide.
