I have a 94 Silverado Z71 350 that recently had a tranny rebuild. It has started burning fluid and there are no leaks to be found. The fluid has turned brown and has a burnt smell. It started slipping with delayed engaging of gears. I added fluid and it slowly came back. The reverse has never worked quite right...slow to engage without higher RPM. I was told this model does not have a modulator valve which unfortunately may have been the fix. Where is the fluid going? There is no abnormal smoke coming from the exhaust. ???

 

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