Hi Brian,
I'd only be guessing ...
If you do not have a BW35 service manual standalone or as part of your in-hand maintenance service docs, please try:
http://www.k-jet.org/documents/greenbooks/100-series/
Section for for both 1969 and 1974 treat the transmission here.
Also, here at:
http://www.volvowiringdiagrams.com/?dir=volvo/-%20Service%20Manuals/Automatic%20Transmission
Specifically, see:
TP30868-2 Volvo BW55 AW71.pdf
File URL: http://www.volvowiringdiagrams.com/volvo/-%20Service%20Manuals/Automatic%20Transmission/TP30868-2%20Volvo%20BW55%20AW71.pdf
The other auto transmission service file may be useful, also. I remember seeing Borg-Warner doc on the BW35, yet can't recall where now. Not in bookmarks, either.
And, ha! Found it, for the Borg Warner BW 35. Copy the hyperlink into an new browser window. Mozilla and Chrome and MS browsers may open the file.
Image of title page:

Link to the PDF file:
http://volvo1800pictures.com/document/BW35_manual/bw35.pdf
AND, on the same page:

Link to the PDF file:
http://volvo1800pictures.com/document/mish/Volvo%20Automatic%20transmission%20Diagnostic%20chart.pdf
I found this web site some time ago:
http://volvo1800pictures.com/sweden/Volvo_1800_dokumentation_main_page_en.php
The page is incomplete. You'll find links to the PDF file, yet they are not linked when you look at the page. You have to open the HTML and use search. I mean to write the page owner, yet forget to.
I would guess fluid level, and maybe clogged screen(s), yet if a recently rebuilt BW35, with new (or undamaged re-used) wet clutch discs, there is the service of adjusting the bands (should have been done during the rebuild). Through sounds of something hydraulics .... (I guess) I hope some sort of warranty remains in force on the BW35 rebuild. The BW35 is a durable auto transmission, with care.
If you rev the engine and it does not go, suspect your recently rebuilt BW35.
You have a warranty on the rebuild, I hope?
There would be a host of folks that would want the M40 or M41 transmission, driveshaft, three pedal assembly, clutch cable and sheath, transmission support, and on and on, you removed.
Other board members will provide an actually useful reply to your questions here soon. I though directing you to some service doc may help you with your trouble shooting process.
Hope that helps you,
MacDuff.
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