The vent caps popped off because gas built up faster then could be slow released.
In the days before maintenance free SLA batteries it was common to remove the caps and top off electrolyte before or after a charge.
There is plenty of different types of lead acid batteries and even more types of chargers.
Without knowing more about the battery or charger i would say don't worry about the venting.
If it's boiling acid out the vents then you are charging it too fast or hard try a different charger on its slowest setting.
Hook it up outside away from children and small animals and just watch it charge from a distance.
After a hour or two and no fire unplug the charger and test the battery if it's taking a charge go for a full run till the charger kicks off.
*disclaimer* if you are not comfortable w/ the possibility of catastrophic failure, don't go any farther..just go buy a replacement of the same size and type.
Myself I've earned a redneck engineering degree from the school of hard knox.. so I'm always prepared for fire, explosion and general bodily harm..
Bubbling indicates that the battery is fully charged...especially if ALL the cells start bubbling at about the same time. If one cell never bubbles, that's the dead cell.