Anyone try the Valvoline Transfer case fluid? It claims to be fully synthetic and meet Ford xl-12 as well as be suitable for transfer cases spec'd for Dex/Merc ATF. I just filled my tcase with it and I only ask because it seems pretty thin. Red in color and smells like ATF. My Sport Trac has the same BW1354 calling for Mercon as the Ranger.
"Valvoline™ Multi-Vehicle Transfer Case Fluid is a full synthetic offering that meets the performance needs for transfer cases calling for Ford XL-12, GM Auto Trak II, as well as transfer cases requiring ATF fluids (DEX/MERC, ATF +4, etc).