IME, chuck it out, fit a new one.
I've messed about with them, running oil through etc, but it only delays the inevitable by a couple of weeks. 105, Ultegra, Dura-ace - they all go the same way eventually, but I still think they last well enough.
On a least one occasion, one first developed a problem on a cold, frosty morning
I like to keep a brand new one in my spares box as it always happens the exact replacement I need is sold out everywhere.