That looks like Shellac.
Try meths on a pad of old linen (e.g. worn out white sheet). If it obviously picks up the colour, you might go to fine wire wool (000 or 0000 if you have the latter), to get off stubborn bits. Obviously, go with the grain. You can use Nitromors-type stripper on the brass parts, and a suede shoe brush (brass bristles) to get into the fine detail. Be careful not to over-polish the brass later on - it's tempting but you can easily lose detail.
Meths has the advantages of not raising the wood grain, and leaving almost no residue. You might try toothpaste on the bubble assembly, ideally with an electric toothbrush head. It's a very gentle abrasive, and shouldn't harm glass (IF you're gentle!), but the brush will get into crevices. Again, it shouldn't do any damage. I think the vials were held in with either putty or plaster of Paris (because it sets fast), the latter being a bit easy to damage. As long as you don't break the seal on the vial you should be able to relocate it if it does come loose, but I'd try not to disturb it.
If it's for use afterwards, I'd clean the machine screw threads up and use a drop of Loctite when you adjust it. The wear on the fulcrum looks like the adjustment is actually pivoting on the vial, rather than the metal frame. I'd check that - if so, it will be quite fragile*, so be careful not to overtighten the adjuster screws when you reassemble/align it.
Nice looking boat level. Should come up a treat.
E.
*It's not just the pressure. Over time, the fulcrum may well have scratched the glass, making a weak point in the same way we score glass with a diamond to cut it. It may be more fragile than it appears. If I've misunderstood what I can see, and it's actually bearing on the metal frame, it should be fine.