Twinnie gives a very good technical view... i will put in in lamens terms to possibly help a bit
Synthetic oil is man made, so they can make every particle of oil the same size, we will call this size X for our sake.
X is just the right size particle of oil, it is small, but not tiny, and not large... this allows for excellent consistancy and protection
Standard oils have a wide range of particle sizes, so, while there are some particles the same X in size, there are many more particles bigger than X, and a minor number smaller than X. Any particle Bigger than X won't protect as well, smaller won't either... there is also a problem with the lack of consistancy.
In synthetic: Since all the oil particles are X in size, if there is a path in any seal or gasket in the engine that an X size particle can get out, any particle of synthetic can work its way through, so you have a nice steady leak.
In standard oil: you may have a few smaller, but the few bigger particles may even act to 'plug the leak' or path out of the engine... so fewer leaks.
The L98 has common leaks with standard oil... with the LT1, those leaks were attemted to be fixed, but the addition of synthetic oil created new leaks...... When my corvette tech talks about the leaks, he refers to the engine as 'seaping oil' since it is just slowly seaping out of the engine.... I have had 3 C4's, my L98 leaked (standard oil), my LT1 did not (synthetic), and my LT4 currently leaks (synthetic).... I think at the end it comes to luck fo the draw... hope this helps