The Explorer IRS differential has a much stouter mounting system than the T-bird IRS that lots of guys use for the Cobras. I'm not sure, but I believe the output splines are the same as the T-bird IRS, so you could use the T-bird CV's, Knuckles, spindles, and hubs to make it fit up to existing mounting systems and parts.
If the output splines are slightly different, you just need the inner CV and you can have a halfshaft shortened with the proper spline to match the inner CV spline and you're all set.
www.dutchmanaxles.com does them for $84 a pair or you can have all new axles made up that are much stronger than stock for around $300.
As long as you can figure out how to mount it, it should work just fine.