904 Goo in pan

Kern Dog said

The first 727 I used in my Charger sat outside during a couple of storms before I installed it. The dipstick tube was out too. Water mixed with the ATF resulting in a liquid that looked like Pepto Bismol. I just drained it and put in a new filter and ATF. That was 2001 and that trans still works today.

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That is really unusual, but if the water didn't get circulated it could live through that.
Water dissolves the adhesive that binds the clutch material to the metal plates.

The goo is usually a combination of aluminum from the torque converter and clutch material, and can be fairly normal.

I will say this though, I wouldn't trust that trans after seeing the pan contents and fluid condition.
It should be opened up and inspected at the very least.
If NONE of that in the pan is chunks and I didn't have any money I might try it.