Found this article in the January 1969 edition of Hot Rod Magazine: ( all issues of Hot Rod from 1948-2023 available on the Motor Trend app)
I think this was a great idea, just like theColumbia for the lower powered cars! I had hoped for more info, like how many were made, how tough was it, was it easy to shift! Etc. I guess it was just put out there to tease us! Bones
The rear-end in the pic is an integral rear-end (Dana style) not a banjo like the ford 9" so it shouldn't be hard to tell a ford from a different make. See the cut-a-way? It shows a bolt on rear cover, never seen a 9" with a bolt on rear cover........ So my vote? The original cougar 2 speed was indeed built on a Dana style rear end and the OP's find has nothing to do with this cougar rear end. .
I was disappointed with this when I first heard of it, when I saw that it was a two-shaft constant-mesh affair — which was probably why I'd forgotten all about it when I saw this thread pop up, only to be disappointed all over again! Even leaving strength considerations aside the Columbia wouldn't suit me much better, though, because it lacks the cone clutch arrangement which for instance a Laycock-de Normanville OD has. A transaxle PG would be better if it could be had with a 1.30-odd low gear and a stronger R&P.