I suppose I'm glad I'm not the only one...
1996 Ford Explorer 4x4 4.0L (Eddie Bauer)
~131,000
I believe I am having the same problems. As if my occasionally-lit check engine light isn't enough, very recently my O/D light started flashing on and off. I then had NO clue what that was about.
For a little background story, before this flashing O/D problem, I noticed some strange (awfully loud) noise burst through my front right speaker. I assumed my wiring for aftermarket stereo system was allowing some current to arch behind my passenger kick panel (where my aftermarket wiring met the factory wiring) possibly short ciruiting. I decided I had enough of my stereo setup anyway and yanked all of it out to see if there was any correlation to [the now] old wiring. Noise in speaker gone. I had thought that was the reason my O/D light was flashing, but I soon found out that this problem wasn't gone.
After some reading on the web, I read that this O/D flashing is a sign of tranmission component(s) malfunction and was instructed to get a reading. I did (although I hadn't thought of it b/c I thought readings were only if the check engine light is on...now i know). I show error code PO761 which states "shift solenoid 3 performance condition" and "ECM has detected mechanical fault with the solenoid energized, valve stuck off". So, it looks like the solenoid 3 is the likely culprit for this problem and it is my understanding that this solenoid is located within the transmission (or at least not outside where it's easily accessible to replace).
Questions:
Assuming I should replace solenoid 3, how many labor hours should this take (or more precisely, how much should I be charged if i drop it off)?
Is there anything else I should know before dropping my exploder off?? Is it even worth it to have a shop do it?? Are there any other known issues cleverly disquised behind my aforementioned problem(s)?
Maybe some other food for thought:
My check engine light comes on from time to time with the code reading something to the effect of "detected misfire in cylinder 6" (I think it was 6). I replaced plugs, wires, and coil (plugs were still good, wires looked new, and I assume the coil was probably still good too). I still get the check engine light (it does go away after a non-definite time). It looks like there is a slight oil leak from the motor towards the firewall side--I suppose it's possible the cylinder is losing pressure. HOWEVER, I have been considering the chance that it might be a computer malfunction--is this even likely at all?? If so, would that have something to do with my O/D light flashing??
Thanks in advance for any information you can furnish.