Yes it needs to be topped up with a good anti-freeze mix, probably old type as new type anti-freeze doesn't always mix. It is a heat exchanger so a type of radiator. They often blow a bit out when they get hot if topped right to the brim so a small gap won't hurt, depends on how hot you get it.
What Dave is saying is do it now anyway, it will prevent corrosion in the channels. Also, don't go to fleabay for the cheapest, use a decent one, doesn't cost a kings ransom and its worth it.