727 with fmvb question

Hi all.

I have a 727 with a forward manual valve body (fmvb) and b&m shifter. Two times now driving home from work the car started heating up in traffic. I then lost my 2-3 and 3-2 shift. Everything was working fine on the way to work and around town. The fluid level is slightly over full and is red. No offensive smell either. Anyone have any places to look first or what the problem could be.

Thanks