How do you figure it will bolt the stock K member, when both Ford and every aftermarket company use different K members for 4.6 or 5.0 cars?
1. You will need a 94 95 GT bellhousing. 3.8 uses the same bolt pattern but the starter is in a different spot for the different sized flywheels. You cannot use a fox bell unless you get the fox input shaft swapped onto your trans
since 94+ inputs & bells are longer.
2. THere is no OBD2 fox. The explorers did however have OBD2 and DIS and 5.0s. So that would work but it would be quite involved.
3. The 94+ cars V6 and V8 have mostly the same stuff. I think you are thinking of a foxbody 4cyl to V8 swap where A-arms and weird stuff were different. SN95 V6 does have a smaller rear end... but all the brake hardware is a direct swap onto a GT rear if you do upgrade.