The transmission used in your Explorer (2002+) is another pretty unreliable unit from Ford. The 5R55W/S has a handful of troubles (some caught in warranty), but long term durability of the units is pretty poor.
It's a darn shame too, because the overall build quality of the components has dramatically increased and you can tell the torque capacity of the unit has improved.
Main troubles (so far):
Band breakage: Bands operate the 2nd, 3rd, and 5th, excluding the lone band for reverse. The bands snap at the stamp where the struts are crimped on. Ford's OE vendor thickened the area on the revised bands (as far as we can see).
Solenoid Body failures: Due to a fluid issue on the assembly line, tainted Mercon V fluid was introduced. This fluid had excessive seal sealer additive which caused the o-rings in the solenoid body to get a little large and cause mechanical failure in the body. Ford has a counter-measure fluid used in a flush procedure to minimize the chance on the affected units.
Solenoid bodies also fail electrically due to wire traces touching their plastic housing and cracking. Revised solenoid body to correct for this as well.
The best for last!
Excessive servo bore wear in the case. The servos are the actuators that apply the bands (again 2nd, 3rd, 5th). Most wear causing sloppy shifts when hot to these gears.
Only factory fix is to chuck the case and install a new one. Aftermarket can ream/install bronze bushings to refurbish and improve.
It's a money maker for some! Bless Ford.
Buy a good extended warranty if you can and keep that transmission fluid changed on a regular basis (2yrs/20,000 miles) are two things YOU can do to avoid troubles.
DH