GBSB, this was common back a few years ago. I went back and did some searching, since you are way out of warranty and listed below is some data I requested from a friend.
1st response is: "Sorry to welcome you to our exclusive "dreaded E" club. The problem most had, was that the torque converter was not locking up due to a problem in the valve body of the transmission.
If you have the same problem as others did the steady "E" will go away when you restart the car (note: Ford says do not drive the car if the "E" is flashing as this indicates an imminent serious problem) if you drive around under 30 mph the "E" won't come on.
When service tech
plugs in the laptop diagnosis computer it will say "torque converter lockup failure".
Most people had the valve body replaced, but my dealer fixed the original valve body (His explanation--a piston moves back and forth to engage the torque converter--due to some metal shavings debris left over from the manufacturing process the piston gets hung up--clean it out and it works like new). I have put on 6000 trouble free miles since the fix.
Please remember that all of this is just "nice to know" information for you. Don't go to the dealer demanding that they replace the valve body. Let them diagnose the problem and fix it in their own way. (My dealer’s first try was to reprogram the transmission computer which didn't work and then he continued on to fix the valve body)"
Yet another:
"Steady "E" is drivable.- Flashing "E" have it towed.
If it is the same valve body problem that most of us have had, after you shutdown the car the display will reset to normal (ie: D5 etc.). You should then be able to drive under 40 mph without the "E" coming back on.
Drive for a while under 40, then drive faster. If the "E" comes on at the higher speed it is the torque converter not locking up which is caused by a sticky rod in the valve body.
Most people have had the Valve body replaced to correct this problem, but my service department just fixed it for me in less than half a day.
If they tell you that the main computer or the dash display unit needs to be replaced, that "fix" take a long time and don't usually solve the problem (ie: they replace the display unit, then you get the "E" back , then they tell you that the valve body now needs replacement--when if they worked on the valve body first it would have solved the problem)."
More info: "TSB 504000-16893, These numbers are the only identifiers that I can find. It is titled "DRIVELINE OTHER AUTO TRANS CONCERNS"
2003 Lincoln LS and Thunderbird built between 11/06/02 and 03/13/03 Illuminated TCIL and DTC P1744 Only (TCC slippage Detected) May exhibit an "E" or an error message with DTC P1744 only
Serial number refers to Transmission serial number, not VIN. Only 5R55S Transmissions built between 11/06/2002 and 02/13/2003 are affected.
Solution is to replace Main Control Valve Body Assembly
This text was printed from Fordtechservice.dealerconnection.com site using my VIN as the codes.
Text is a very, very poor quality FAX.There is a reference to a TSB numbered 03-15-08 that reads as follows:
2003 Thunderbirds, LS, Transmission 5R55S - Harsh Shifts _ Vehicles built between 11/18-2002 and 5/17/2003 only. Nothing else is shown on this TSB. There must be a full detail TSB available to the Ford Techs."