Transmission has water in it

[TXHNTR]

I posted in a thread below where rick said that milky tranny fluid can be fixed with:
Go to TMS header ( top right), 
enter
3349067010 in search ,
then check out and use paypal to pay.
 Cooler,TransmissionOil,VT300i     $119.29  $15.00 
Just trying to make sure that that would be the only cause of why i would have "watery or milky" tranny fluid?  any other input?  Just making sure i replace the right part.  There are no leaks to speak of so far.
Thanks,
Mike

[cyclone]

that is where the engine cooling water is close to the transmission oil. If it is perforated or corroded, you'll get milky fluid. There is really no other way for water to get in your trans, unless it has been submerged.