The rattle you"ve been hearing is more than likely the converter. In 99 Ford went to what they call a grobe clutch style converter. They are known for fingers in the lockup clutch assembly coming loose and rattling. What Allan said was right. It is usually only a problem if it really bugs you.
Now the fluid loss is a different cat. It more than likely didnt come from the vent. When the converter overheats, the neck of the converter actually gets hot enough to expand the rubber on the pump seal. Then it starts pouring fluid out the front. Watch now, once the truck has cooled down, you can add fluid back in and it wont leak.
With you going back and forth under load, you built up alot of heat fast, and the ford style converter is horrible at disipating it.
One thing you can do to greatly help your cause is to use low range in the transfer case when moving heavy loads around the yard or field. Not so much for the 4wd, but you are using the t-case like a splitter for gear reduction. If it"s a 2wd truck, then you are always gonna have to watch what you are doing, especially backing heavy loads on soft ground.
With 195k miles on here"s what I would do..
Fill it back up with fluid. Now that it"s cooled down the leak will have quit. Be pretty careful with how hard you are pulling it and decide if you want to spend the money fixing it. Find a good shop with a good reputaion for building these 4R100s and talk with them about what it would take to rebuild it with a billet cover torque converter. That billet cover gives you alot heavier lockup clutch and disipates heat way faster.
Pulling it to put a seal in, or just replacing the converter is a waste of money if it"s a truck you plan on keeping and using. All your apply oil and converter charge come from the trans, so its kinda like putting a new tire on a rusted out rim and expecting it to hold air. Lastly, you need to make sure they can flush and flow out your cooler. On a ford, converter charge and lube oil are the same circuit. So, any crap coming out of the converter hits the cooler before hitting the filter in the pan. A half plugged cooler will shoot the transmission right in the foot. Sorry for the long reply, but this transmission is kinda my bread and butter. Hope this helps BW
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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