The two VSS wires snapped off clean at the two pole bullet connector at the top of the rear end differential. To remove the connector, first you need to
cut and remove a bare safety wire loop with a lead crimp similar to what they
use for security on electric meters. The connector came out easily but you
couldn't see the color coding of the wires. I found out by chance that you
can't hook up it up backwards. Easy to fix by spreading the two tabs at the
flat side of the connector at the harness end using your fingernails to open,
then swap the two wires and snap the lock shut.

Dave Barton sells the complete connector with pigtails here:
https://www.prancingmoose.com/blackvinyl.html#2polewithpigtails
or get the pigtails and re-use the old connector shell see here:
https://www.prancingmoose.com/blackvinyl.html#pigtailfemale
Checkout the amount of info/parts at Dave Bartons's websites to
rehab old connectors and wiring.

The 940 VSS connector wire colors are:
Pin 1 = Brown, Pin 2 = Green/White (VSS w ABS).

It's a good idea to have some spare pigtails,

I had two of these 2-pole connectors also used for the two washer pumps and a
4-pole connector for the RSR should that need changing. LOOK OUT for a bullet
connector pigtail falling apart! You will have an adventure connecting an RSR
to a dead female bullet connector. Amarin could vouch for crapped out bullet connectors and how they can rain on your parade.

Spook, I didn't have any trouble getting the female pins free from the VSS.
The guts of the connector were OK, the wires broke off clean with no chance to see the color coding.
I used Penetrox on the pins plus back filled the the top of the connector with Penetrox, then wrapped Coax seal and black tape over the harness to weatherproof.

Coax seal sounds similar to the Butyl tape you mentioned, it's putty like and never hardens, coming apart easily years later to service.
Coax-Seal #104 (5' X 1/2" roll) https://www.ebay.com/itm/226015162774

Backing up onto the ramps was easy, quick and safe. Able to do that job
without lugging jack stands. I was concerned that I'd rip off the muffler
but all went well.

There's a 5MM hex head cap screw if you have to remove the VSS.

The OEM VSS price was set by some F(ord)rankenstein beancounter on drugs.
Sourcing a new VSS was an adventure, there's some rear OBD/speed sensors at Aliexpress but their message system is kaput so I could not get fitment info.
Maybe they have one that works for $10-15?

Dave Stevens: Check out Aliexpress with their creepy search engine.
Search for "volvo sensor". and find a lot of interesting stuff,
maybe some of it works? get a new AMM for $10. :-)

It turns out my sensor is fine, I don't need a new VSS,
I'm as happy as a clam at high tide.

Happy motoring, Bill