I ran across this information from ExxonMobil. Apparently they make the Mercon V fluid for Aamco transmission.
Color is RED.
It is a synthetic/regular fluid BLEND.

AAMCO Mercon V is a super-premium synthetic blend lubricant for automatic transmissions and other applications that require a fluid satisfying Ford's new Mercon® V specification or General Motors' Dexron®-III, Dexron-IIE, or Dexron II specifications. It is also approved for applications where Ford Mercon type fluid is recommended.



Features and Benefits

The unique formulation of AAMCO Mercon V combines synthetic and conventional base oils with a high-performance additive package. Compared with conventional ATFs, this advanced formulation provides superior performance in such critical areas as low- temperature flow, wear protection, viscosity and frictional stability and resistance to thermal breakdown. These outstanding features translate into significant operational benefits, such as:




Controlled friction properties for smooth and efficient transmission of power across all normal temperature ranges and "like-new" transmission performance even in high-mileage vehicles
Excellent lubricating characteristics for quiet operation, smooth shifting, and excellent wear protection
Longer fluid life and longer transmission life
Exceptional oxidation stability and resistance to chemical deterioration
Excellent viscosity stability (high viscosity index) to help assure adequate lubrication without excessive thinning in severe high-temperature service or thickening at low starting temperatures
Superb protection against rusting and corrosion, plus special protection for soldered fittings
Resistance to foaming
Compatibility with synthetic rubber seal materials

Applications

AAMCO Mercon V satisfies Ford's new Mercon V specification, Ford Mercon and General Motors' Dexron-III, Dexron-IIE, or Dexron II specifications.
AAMCO Mercon V is also acceptable in any Audi, Honda, Mazda, Nissan, Opel, Renault, Toyota and Volkswagen transmissions that require a Dexron-III, Dexron-IIE or Dexron-II type fluid.

NOTE: For automatic transmissions in Ford Motor company vehicles where Ford specification ESP-M2C166H or ESP-M2C138CJ fluids are specified, AAMCO ATF D/M is recommended. For Ford automatic transmissions that require Type F fluid (M2C33-F), AAMCO ATF Type F is recommended. For Chrysler vehicles requiring fluids that meet Chrysler Corporation's MS-7176D or MS-7176 specification, AAMCO ATF+3® is recommended for both makeup and full fill.

Automatic transmissions should be checked for proper fluid levels at regular intervals, and the fluid should be changed at manufacturer- recommended intervals. However, this may vary due to your vehicles operating conditions. Some manufacturers recommend more frequent changes of transmission fluid under severe driving conditions, such as heavy traffic, hot weather and trailer pulling.

AAMCO Mercon V meets the transmission fluid requirements for Allison automatic transmissions and other heavy-duty equipment that requires a Dexron-III, Dexron-IIE or Dexron-II fluid. It is approved against the Allison C-4 specification and therefore can be used in Allison Powershift transmissions or other torque converter systems that specify this type of fluid.

AAMCO Mercon V is recommended for power steering units for which the manufacturer recommends a Dexron fluid. However, many carmakers require the use of their own power steering fluid to provide maximum hose life and to minimize pump squeal and wear.

 

...and this from Pennzoil: (I now award myself a Masters Degree in ATF)

Pennzoil® Multi-Vehicle ATF

Pennzoil® Multi-Vehicle ATF is a special blend of high-quality mineral base stocks with an advanced additive system for automatic and powershift transmissions. It meets the requirements of transmissions requiring DEXRON® -III, MERCON®, MERCON® V and Allison C-4 fluid. In addition, Pennzoil® Multi-Vehicle ATF is recommended by Pennzoil® for Chrysler automatic transmissions and can function as a Caterpillar TO-2 lubricant. Pennzoil® Multi-Vehicle ATF is formulated to provide protection that meets or exceeds the highest quality standards in the industry.

PENNZOIL® MULTI-VEHICLE ATF is suitable for use in applications requiring:

DEXRON®, DEXRON®-II, DEXRON®-III.
MERCON®, MERCON® V.
Chrysler/Dodge/Jeep/Plymouth (except NAG1 that requires Shell 3403 ATF).
Allison C-4.
Toyota T, T-III, T-IV.
Honda Premium Formula ATF, ATF-Z1 (except in CVTs).
Mitsubishi/Kia/Hyundai SP, SP-II, SP-III.
Nissan Matic -D, Nissan Matic-J.
BMW LA2634, LT71141.

Not for use in vehicles requiring Type F, DEXRON®-VI, MERCON® SP, Full Synthetic MERCON®, Nissan Matic K, Toyota/Lexus WS, Mercedes Benz 3403-M115, BMW 1375.4, or Volvo 1161540-8. Also not for use for CVT. Check owner's manual and/or dipstick for exact specification.

Benefits:
Pennzoil® Multi-Vehicle Automatic Transmission Fluid is suitable for use in most modern vehicles. Pennzoil® Multi-Vehicle Automatic Transmission Fluid is a high-quality, advanced technology, synthetic-blend formulation that provides:


Excellent high-temperature oxidation protection.
Anti-shudder protection.
Outstanding low-temperature protection.
Smooth, consistent shifting.

 

OK, no guessing. I know the color for certain.










It's red. All ATF is red.

 

I only said that because I see more and more incorrect information being spread on these blogs. Somebody hears something at the pool hall and before you know it, it's like it came out of the shop manual.

Thanks for your input. Seems to me they need to start using different dye colors since it's very important people use these newer formulations for these newer (expensive) high-tech trannies.
I see there's a Mercon-SP for the six speed trannies. Who'd have known?

 

XT-5-QM vs XT-5-QMC : https://www.ford-trucks.com/forums/7...ml#post6278048