Vt 5 litre gearbox issues

[Commo64]

no shavings on the dipstick the fluid was still red ill do a service on the transmission and see how it looks

Yep you should give it a service and I've heard that you can get the old oil lab tested by a company, which tells you whether there is shavings of metal in the oil, etc...

 

[BlackVXGTS]

The item below is from 4L60e common problems. Not sure how well this compares with your experience:

16. Soft shifting, gradual performance degradation: Poor line pressure rise due to leaking boost valve, clogged EPC filter screen, failing EPC solenoid, or worst case: leaky seals throughout. Transgo HD2-C kit fixes first two without removing trans. Seal restorer may fix last problem, but probably R&R. Also try a transmission flush with BG brand products (Firestone stocks it).

R&R = Remove & Repair (or Rebuild) = Transmission must be removed to fix the problem and may have to be rebuilt or replaced.

 

[_R_J_K_]

I've heard that you can get the old oil lab tested by a company, which tells you whether there is shavings of metal in the oil, etc...

Generally won't find metallic flakes (bearing material) in a cooked gearbox unless it's completely grenaded. If it's just free reving it's more likely cooked clutch packs/bands or solenoid and servo issues.