Sounds like it was severely overheated. Could be from the vent tube on the top of the trans as well. Either way, the pan needs to be dropped and the fluid and filter changed. The fluid and filter a no good anymore. Don't put a rebuild past it. It could very well need one. I have 195k+ on my original E4OD, but it is been on borrowed time for awhile now. Hasn't given me any real signs of dying yet. But if it does go out, I'll get it fixed and updated and be on my way.