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I don't have an EGR on my Explorer, so I'm not terribly familiar with them, but it seems that more often, the problem lies in the position sensor rather than the EGR valve itself.
If you want to diagnose it fully, find the pinpoint tests (a link to a file called "gtest.pdf" that contains the pinpoint tests for your '95 has been posted here within the past year) and go through it that way.
If you want to throw parts at it, buy the position sensor (DPFE or some such animal) and try that first.
I just had the exact same problem - EGR tested ok (Iremove the EGR valve hook up small piecee of hose to the top vacume line and suck gently on it - you'll know if it's working or not..... I'm going to replace the DPFE tommrow (picked it up from the dealer today - $80.00
The new part available at Ford dealers is slightly larger than the original. I replaced the old one with a new one and my code has not come back. The new part at the dealer is cheaper too, $29. The part number is: 4U7Z 9J460 AA. Good luck. A very easy (and cheap now) fix. No tools needed.