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You can find the transmission codes at www.volvospeed.com. Look in the maintenance/repair section. It is called Bay 13. Has alot of other good information on maintaining your 850.
I also have a 1995 850 Turbo and it is OBD II compliant. This means that you can also use a code reader to determine what the problem is. I find it much easier to read the digital readout than to count the flashes. It can also be used on newer cars as well. I bought my reader for my other cars, but it works great on this one as well. You can also take it to some auto parts stores (i.e. Advance Auto Parts) and they will read your codes for you at no cost. The nice thing about the 1995 850 is that you have the option. Newer cars require the code reader.
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