Well, I have found the problem. After draining and draining And DRAINING AND DRAINING the fluid. I pulled the valve body and there lies the trouble...
The lever-arm that sticks off the kickdown rod inside the trans was snapped off. So, looking for that piece now.
One thing after another.
On the positive side,.. The Lokar Transmount Shifter looks AWESOME!!
Have a COBRA day!