No, it makes no noise except in fifth gear overdrive and ever so slightly in third and slightly in fourth. None with the clutch pedal out in neutral or in, for that matter.
At this point, since a conclusive diagnosis can't be made, I'm tempted to pull the transmission and go through it AGAIN. It makes me mad because it probably has less than 500 miles on it since I put the T-5 five in the truck and the T-5 was rebuilt prior to that install.
It is a NWC T-5, so I used Dexron trans fluid in it as clearly stated in the owner's manual for a 1985-86 NWC T-5, 1352-145.