Two problems related to overdrive light on have been reported for the 2000 Ford Explorer Sport. The most recently reported issues are listed below.
When I bought the car three years ago it had just a rebuilt transmission in it. Less than a month after I purchased it I had to have a 2nd rebuilt transmission put in it when my o/d light began flashing. Just yesterday I was driving down the freeway(I-5 in seattle, wa) when my transmission failed and I had to coast across 3 lanes of freeway traffic to come to a stop on the shoulder. Thankfully I was able to make it safely to the shoulder but the situation could have ended very differently. I could have very easily gotten into an accident. I have been looking online and am finding that hundreds if not thousands of explorer owners have had the exact same issues that I have experience! it makes me sick that Ford had yet to do anything about the problem.
Overdrive light flashing on and off. The car slips when shifting into 2nd and 3rd gear and then is fine after that. I have seen hundreds of posts from online forums with exploreres having the same problems.