It is the OZ trans yes. Its got the hi po valvebody with the purplepaint.
I agree with you, it has to be coolant that got in there to make the pepto bismol. Too much there to be condensation.
It was the original radiator, looks to me, a 3 core unit. I used a coolant system pressure tester to load the system up to 17lbs and didn't see any leakage, but somehow moisture was getting into the trans and the cooler lines are the way. In fact when I think about it, the coolant level required topping off a couple times so its likely there was leakage.
I did put in the parts store radiator I had. Plastic tank aluminum core junk but it doesn't leak. Maybe Ill have the original radiator serviced. It looks in great shape, not banged up.
I welded a drain plug onto the trans pan right in the middle of the pan magnet. New filter, 8qts of DexMerc and I was back in business.
It runs and drives, just went around the block. Manual shifts via the lightning sticks are crisp. The trans does feel more responsive.
In auto, it shifts kinda quickly at low throttle, and likes to stay in gear longer than I like before a downshift.
I haven't gone too hard on it yet for fear of something catastrophic.
I am going to run it with the new fluid for a bit, then drop it and refill fresh again if all is well. Just to flush it out a bit more.
Hoping for a serviceable transmission........