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I have a similar problem also
We have had our 98 F150 do almost the same thing, Our problem is that it won't come out of low range after we put it in....
We recently posted a question as to suggestions on what may cause the problem, No answer yet.
It's a 98 4WD, 5.4 Litre,Automatic.
The only way we can get it to come out of low is to disconnect the battery cable, Let it sit over night, Turn the switch off, Then reconnect the battery, It came out.
We tried everything, Backing up, Going forward, Rocking it, Made sure it was on flat ground,We thought maybe it was in a bind and would'nt come out due to that.
Anyway, The battery cable was the only success we had in getting it out of low range.
We are still searching for an answer to repair the problem, But for now, That's all we can do on our's.
We made our post on this subject around Feb. 22, Maybe we will both get an answer soon :-)
Goodluck,
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