Compost Heap Update

My compost bin stinks!  Literally.  It's too wet and I've been slacking in terms of caring for it.  The heavy rains last month and this month are not helping, especially since I haven't had a chance to poke more holes into the bottom of the bin for drainage or find a lid for it.  This weekend is supposed to be warm, sunny, and beautiful.  I'm hoping it will dry out my bin before I dump the whole thing and start over.  Stuff is growing in there too!  Is that normal?  I have no idea what it is; it looks like bean sprouts which, if you think about it, resembles just about anything in it's infancy.  I had this plan to create a drainage system that will allow the water or compost tea to drip over the edge of my deck.  I know this is nutritious for plants too but I don't have the means to collect it right now and there's grass and dirt below my deck that will reap the benefits.

Ugh, now all I can smell is rotting food.  Help!