It does not fix it. I have a 2000 Durango 5.9, and have been having trouble with my transmission not shifting from 2nd gear to 3rd without letting off the gas. I have the same code, so I figured I'd replace solenoid and transducer, but it did nothing for my problem, and the code remains. I read somewhere that the problem it the connection from the PCM to the governor pressure sensor. And the replacement if the PCM is the fix. But I'm no mechanic, and I only read it once, and I haven't replaced mine, so I don't know if it is the solution. Just something you can base some research off of.

 

My 2001 dakota was in limped mode, slow off the line, codes read 1762 & 1757, so I replaced the governor sensor and transducer, and it fixed 1762 & 1757, but now 1756 is the issue and it shifts from first to second at high rpm when I take my foot of the gas a little, then stays in second, doesn't shift into 3rd; my max speed is 50.. Did you replace the oil and filter every time you dropped the pan? So now I'm buying a new solenoid, I hope this fixes the issue.. Maybe my sensor that i bought was DOA. Any suggestions would be a great help thanks!

Sensor and Transducer i bought the first time i tried to fix 1762 & 1757

Solenoid i bought to fix 1756

 

I found my transmission kickdown cable was corroded at the spring down on transmission after loosening that up after cleaning it up and lubricating the cable code never came back