The tranny oil is replaced via the plugs on the left side of the tranny.
I afraid I won't provide much clarity on the type of oil to be used.
I replaced the fluid in mine a couple years ago when I had a halfshaft out. Per a rather official looking Volvo document I purchased two quarts of Type F ATF for the job. Imagine my surprise when a light colored oil came pouring out (think fresh 5W-30). The ATF went in and is doing fine so far. I would NOT use gear lube unless you find something official that says so.
With the axle pulled it's a great time to replace the oil seals on the tranny.
-Will
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