[V8] Leaking Red Fluid UH-OH

[driverv8 at aol.com]

 I have been a lurker for months because the beast has been running great.
No problems. 
Now I see many drops of a red fluid, which I would call Automatic Transmission fluid, on my garage floor. 
I took the car today to a repair shop, one which has repaired the car in the past, and the owner told me it was the power steering rack. 
 
That just didn't sit right with me. 

SO, the question for this group is, what is the color and look/feel of the fluid in the beloved rack system?
Pentosin Green or Auto trans red?

I crawled under the car, and the red stuff is leaking from the drivers side, high up on the engine, near the fill tube, now leaking onto the bushings and related hardware on the drivers side. 
 
Shop wanted to replace the rack.  $2000.  I have the car back in the garage.  
Only other symptom, was, that I measured the level of the auto trans fluid while the engine was running, in park.  It was low, and I refilled.  I will check that again tomorrow.
 
Is this fluid Rack related or Auto Trans related? 
Thanks,
Scott Olson
1990 V8 
130k