uh-huh. Is the seal around the outside of the light intact? If not get more from here:
http://www.ifpsl.com/aquamac.htm
Are fittings installed correctly, running right? If they are misaligned you can re adjust them.
Is the frame bowed? Put a straight edge against it.
Is the seal around the frame to the wall intact and OK?
Most likely issue if all of this is OK, is the glazing unit in the light has shifted. Pop the beads out with a pallet knife, inside the glazing unit will be supported by some plastic packers (hopefully), add more/shift them about until it is sitting straight again.