Originally Posted By: semaj281
Please explain this further. If the converter is unlocked, does that mean it's slipping?
You could say that, as there is no mechanical link between the input and output sides of the torque converter.
Originally Posted By: semaj281
What's the converter doing when I'm cruising at a steady speed in overdrive?
The torque converter will be "locked" and the input and output sides linked mechanically.
Originally Posted By: semaj281
And at a standstill, with the car in gear?
Unlocked. This prevents the engine from stalling, much the same way it is impossible for an MT car to be stopped at idle while in gear, as with an MT, while in any gear, the input and output sides of the clutch are physically connected. Normally 1st and 2nd will not have the ability to lock up, and 3rd and beyond will.
Originally Posted By: semaj281
At WOT?
Depends, partly on how the transmission was designed, and partly on speed. Lower gears, typically unlocked. At a high enough speed in a high enough gear, it may well be locked. I don't know how you could tell for sure as a driver though.
A heavier load will typically cause the torque converter to unlock more easily.
If you want more details, you could start here:
http://en.wikipedia.org/wiki/Torque_converter