Every year there are discussions of what should be run in the chain case. It would seem that you can use anything this side of Mazzola and have no problems. I have been using ATF for years, no particular type just what ever I have around.
One time due to a popped seal and field fix I ran injector oil in there for a while. Again, no problems.
I had this same thought while I was rebuilding a tranny the other day, The planets in the 4r100s hold up fine to dexIII, no reason a little chain couldn't.
Only warning I heard about using ATF was to change it every season.
Which is ok by me because I like to inspect the gears and chain every year.
Racers started it changing gearing all the time because it was cheaper.
Dextron was the brand recommended to me. BUT I use Polaris synthetic
chaincase oil in every brand because I can get Qt's cheap and it's enough to do
4 chain cases,(8oz*4=32oz.). Always have a quart or two on hand as my
normally shop supplies.
I used ATF and Mobil gear oil lots back when I had sleds with chaincases. Never had an issue. Mainly went that way because Wal Mart would be open at 8pm when I decided to work on my sled LOL
It's been my experience sled factory chain case oil creates more wear as seen on the magnet and even chunks of gears laying in the case.
Since switching have less wear.
So I figure most chain cases for other vehicles use tranny fluid I'd switch. Since Ive seen less wear with many more miles in tractors , trucks , quads , jeeps etc..