OD OFF light flashing
I noticed this is an extremely old forum but my 2006 Mustang 4.0L (automatic) (134,000 Miles) "O/D OFF" light started flashing today (Sept 16, 2015) I was messing with the shifter to pull the center console out to hide some wires for my in dash touch screen radio. I was Shifting it back and forth trying to get a good angle to unscrew the screw holding the shifter in place. Anyway after I put everything back in place, I noticed the O/D OFF light was flashing. Dont know if it was something I did since the plug to the shifter was disconnected for a period of time. After doing some research online, it might be a serious problem. Ranging from either the solenoid needing to be replaced all the way up to rebuilding or even getting a new transmission installed. If I would have known how common the transmission problems are on this car, I probably would have never bought this year Mustang. Really wish Ford would have done something about this major problem because I love Ford. But now-a-days, the safer car buying option might be going with an import maker. If anyone had this problem feel free to let me know what you did to get it fixed!