1996 explorer has intermittent flashing od light. When it doesn't flash, it shifts normally. When it flashes, 2nd to 3rd up shift is hard then it keeps shifting until it locks in OD like normal. Slowing down with OD light flashing, all is normal until 3rd to 2nd down shift which again is hard. I believe when the flashing OD light is flashing, the transmission goes into high pressure mode to save the clutches. I don't know why the od is intermittent. I think the code said there was a speed difference between the input and output shafts? I've replaced the three speed sensors i could reach and adjusted the bands and changed the trans filter. No joy. Any ideas?
You did not mention the mileage, but I assume it has a good amount of mileage. Apparently, you have some sort of internal transmission issues. Have it checked with a guy who works on transmissions.