Flashing Arrow Code Torque Converter Lockup

[warmblood58]

My '94 t-5r had the dirtiest atf I have ever seen and badly burned. I now have flashing arrow and have drained pan 4 times and replaced with same quantity clean atf. I drove the car a few miles the other day and upon parking, noticed a smell of scorched atf. I do not know much about automatic transmissions but my guess is, if there is no TC lockup, are the friction plates working extra hard to transmit power to wheels? Is this correct? I notice no slipping while driving, reverse and drive engage positively. Trans has 210,00 miles - worthwhile to replace TC solenoid? Better to replace with a low mileage used transmission. Thanks!

[warmblood58]

I guess a better question is, if the TC is not locking up due to solenoid issues, what is actually happening? Thanks!