I see smoke!
 

2004 Ford Excursion 2wd, v10 with approximately 150k miles. Recent purchase so unsure as to history of transmission servicing. Rubber plug under transmission is dripping slightly causing fluid to hit exhaust and smoke. From what I understand, no fluid should be leaking as its only an access point. True or false? Could I be lucky enough that some fluid is expected to be there and that I just have a rubber grommet that needs to be replaced? Or worse, does it indicate rear main or something like that? And yes, it is red fluid

Smoke
 

Thx for the info. Gonna hope it reseals. I was just coming home though, no loads, no overheating. Noticed twice while at stoplight. None of those things listed in thread were applicable. Hills, reverse, etc

Just an FYI, I put a shift improvement kit in my 4R100 and was told by a Ford Trans mechanic to not install the heaviest springs in the pressure regulator section. Said the 4R100 is known for blowing out the front seal with too much pressure. Sure enough, the kit came with instructions on how to pin the seal in place.

Smoke
 

I use it as a kids hauler, picking up kids from school and idling at time waiting in line. But with experience in my first first cars growing up that were temperamental at best, I was taught to keep vigil in gauges. I do that with new cars just as much. No temperatures were out of the ordinary at any time