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Yes, your transmission cooler is inside of the side tank of the radiator. If your coolant looks like pink sludg, then there is a good chance that you need your cooling system and trans fuid flushed and a new radiator installed.
Rule out leak from water pump. What engine is it - 3.0 3.8. Could be intake manifold gasket. Have the cooling system pressurized, about 12 lbs. and look for leak, bubbles.
check oil for coolant in oil also. Possible head gasket leak.
If the heater coil was bad, it would be leaking radiator fluid... probably into your dash/floorboard (depending on where it is installed in your model car). There is a switch that diverts the hot radiator fluid through the heater coil when you want heat. There is also an air diverter valve that helps to mix the hot and cold air. The fluid valve is controlled by the A/C settings control. The one that you use to choose between heater/air conditioner/vent/ defrost. The air diverter is controlled by the temp mixing controller. The most simple explanation is that one of those valves or the controller of one of those valves is not working. If the hot water cant be diverted through the heater coil, the coil can't exchange the heat (warming the air). If the air diverter (hot/cold controller) cant move to add heat, then all you will feel is air from the vent side (from outside) or from the A/C cooling the air.
I would guess that its either a controller or one of the valves themselves. Odds are, it is a controller. That tends to be what malfunctions first.
SMOKING UNDER HOOD CAN BE CAUSED BY MANY THINGS.BUSTED OR LEAKING RADIATOR HOSE.POWER STEERING HIGH PRESSURE HOSE RUPTURE GET FLUID ALL OVER HOT EXHAUST MANIFOLD CAUSING SMOKING.LEAKING VALVE COVER GASKETS ALLOW OIL TO LEAK DOWN SIDE HEAD TO HOT EXHAUST MANIFOLD CAUSING SMOKING.ELECTRICAL SHORT CAUSE SMOKE.