Oozes as Garbage and Waste Disposal System?
Just to throw my own two cents into this ooze, while tmagann has some good points, they're all based on the real-life principles of the Law of Conservation of Matter/Energy/Ooze. And, admittedly, while it may be fun for some people to make certain their D&D/LotR/Star Wars relies on those handy principles, they certainly don't have to because it's just as likely A Wizard Did ItTM. Maybe magic, a force beyond our current understanding of Earth and how it works, defies the laws of physics and so it doesn't have to care. Or maybe the Ooze is somehow like a Bag of Holding, where it all goes in but only what it wants actually comes out, which might be nothing because it might as well be infinite. You know, because magic.
So... in short, consider the realism if you want to. Or don't.