My 2 cents worth, or maybe 1.5 cents the way the world is going.
The last two stroke I ran was a TY250 and I tried 80/90 gear oil, ATF and TORCO manual transmission fluid.
The gear oil made for tight gear changes until it warmed up then it was fine.
The TORCO was the same but the clutch felt better, much more positive.
ATF seemed fine.
ATF is meant to lubricate gears and bearings as both exist inside an auto trans. It is also designed to provide drive to wet plate clutches.
The TORCO is a 40wt oil and designed to provide drive to wet clutches as well.
I used ATF in LENCO transmissions in a drag car and found we had to adjust the clutch pack every run and replace bearings every year. When we changed to TORCO we would adjust the clutches every other meeting and run the bearings for two + seasons. The oil also stayed cleaner for longer.
The TORCO oil gave a more positive drive and produced less wear in the clutch packs. The engagement of the clutches was also smoother.
I noticed the same result on the TY even with slightly less horsepower
I'm currently building up two TM125's and intend to run TORCO MTF in both
Cheers
Brent