Yes and no, a torque converter can not achieve 100% coupling, thus there is some slippage and the fluids Kinetic energy is lost due to friction and turbulence causing the TQ to generate heat. Basically there are three parts to a TQ the impeller (driven by the engine crank) the turbine which drives the tranny and the stator which between the turbine and impeller. The ATF is squeezed through these elements just as in fluid dynamics adding pressure to a liquid produces heat. As the parts rotate they are continuously pulling in "squeezing" (TQ locks) and releasing the fluid producing the heat.
So, as you stated pressure from the valve body creates heat, so does the TQ in its locked position, as stated, you can not achieve 100% lock up. TQ lock is basically achieved once the turbine (tranny driver) reaches 90% of the impeller speed.
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2013 Ram CC 3500 4X4
2014 Keystone Copper Canyon
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