If it's only happening the first time it's fired up after a long period of non use, I would guess that it's a float that's not sealing up right away and that one carb is overflowing.
I've never heard of an o-ring that's leaking, swelling up and stopping a leak in only a minute or so.
I can tell you from experience that if it's a fuel rail o-ring that your describing as your suspected leak, that it will only leak a very small amount of gas and it will get worse over time, not better.
If it's not happening every time you start it after the first time, I wouldn't worry about it to much, but you should do some research on this site related to hydrolock and overflow tubes.