The canker-like growth with bore holes and insects on your 11-year-old quaking aspen (Populus tremuloides) indicates a canker disease complicated by borer infestation. Common aspens cankers in the West include Cytospora, Ceratonystis (black canker), and Hypoxylon.
Contact the Oregon Department of Forestry (links in original answer) for a forester visit. They can:
Aspens are short-lived (60–80 years) and prone to cankers. If this tree is a hazard near structures, removal may be wisest.
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