It's hard to tell exactly where the leak came from, especially considering the amount of blowback, but I think it's safe to say that it is the front of the tranny that is the problem.
The tranny front, under the engine:
Same area, from near the pass. side wheel well:
Here is another angle of the "infected area" at the front of the tranny, picture taken from below and aft of the leaking area:
As you can (kinda) see, the area around the tranny drain plug at the rear of the transmission is dry (the black stuff is long-dried road grime):
This is blowback, above the tranny drain plug:
So, what do you think I'm looking at here? Matt, you have much more experience with these cars (and cars in general) than I do.
Incidentially, I have gotten many more responses to this problem with my Volvo on the Pelican 944 board than I have on two Volvo boards combined!