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From: Sunny Seaside Seabrook Texas (a whole 'nother country)
Holy Fluid Level Batman!
I just checked my tranny fluid ('92 LT-1 auto) and it's a pretty pink. But... the level was far above the hash marks on the dipstick. I followed the instructions in the owners manual "to the T" for checking the level. What happens if you've got too much fluid? TIA for the help!
Those suckers don't make fluid. Over full and pink, says only one thing, to me. WATER ! And there are only two ways it can get in there. One would be a super ignorant lube jockey at the local grease 'n go. The other is a failed trans cooler. The interesting thing about water, is that it dissolves the bonding that holds the linings on the clutch plates. Don't ask how I know this. Good luck, and...
CFI-EFI is absolutely correct, if you're fluid is actually pink it means water has gotten into the system and contaminated the fluid. He's also correct that water will cause the clutches in both the transmission and the torque converter to fail in short order - I owned a transmission shop for five years and saw firsthand the results so if this is the case DO NOT drive the car, have it towed on a flat-bed to a shop for repairs (driving it will likely result in damage not just to the clutches but to other parts of the unit that will drive the repair cost much higher). The most common cause of this problem is failure of the radiator. I don't recall specifically for the Corvette, since mine is an M6, but generally the transmission fluid runs through a metal line up to a separate section of the radiator that provides cooling and then returns to the tranny - if the radiator is damaged between those sections it will allow water to enter those lines and be carried into the transmission, and once that occurs the only "fix" is to replace all the clutches and probably the torque converter.