Hmmm after searching the forums it seems I have a very similar problem. On cold morning starts it almost sounds like the engine is knocking quite badly, and when you pop the bonnet you can't hear the knocking but can hear a loud hissing coming from the passenger side area around the front of the exhaust. During the day or after the engine is warmed up the knocking and hissing sounds disappear.
Daniel,
if you could PM me a quote to change the exhaust / turbo gasket it would be muchly appreciated, car is a stock R32 gtst.
Cheers Mike.