It's certainly possible that it could help. I bought my '98 V70 about a year ago and just got around to flushing the tranny a few weeks back. The condition of the old fluid was scary, very dark and smelled awful.
After a few days of driving with the fresh fluid I noticed a huge improvement. I always assumed these cars were just slow. I bet my car has 15-20% more pep then before, both from a stand still and accelerating on the highway. Big difference.
Just cross your fingers that you get the same results. Give it a few days before you draw any conclusions. Good luck.
Jeff
'98 V70 2wd 176k miles
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