I retired both of my nipple piercings not long ago, and to be honest, in less than a week they were back to normal and I couldn't even tell they had been pierced. I never had weeping or anything like that after the holes closed over.

Seeing as your piercing was much older than mine, I think maybe the holes are not closing as quickly as mine did as a result, and this is why they are still weeping? Is the rawness just on the holes?

I would do a soak or hot compress at least twice a day for a while. Make sure not to touch your nipples with dirty hands! An infection there can be serious.

Well-healed nipple piercings may never close completely, but it's possible yours might, since it sounds like they've never really healed.