One problem related to transmission slip out of gear has been reported for the 1997 Ford Explorer. The most recently reported issues are listed below.
Transmission out before I reached 87,000 miles. When my husband changed the transmission fluid, large chunks of metal came out. The problem occured when driving home from krogers and vehicle did not shift out of 2nd gear, rmps went up past 4000, then vehicle would loss power. Would take my foot off gas til rmps 0, then repeat this cycle for my 5 miles home. My husband towed vehicle to peffley Ford of dayton, ohio on Dec 24, 2003. They said this is normal for that many miles, but according to my search, this is not. Ford transmissions have been problems for other buyers. Could have been fatal if I was on interstate. We are being charge $2100 for a new transmission, today is Jan 1, 2004 and I don't even have it back.