well, in ft. worth, you wouldnt have to worry about salt on the roads in the wintertime getting inside the wrap and corroding the pipe. . but, as weldingmiller stated, moisture can/will be your enemy. If you have aftermarket fully stainless exhaust, then it should be an issue... the header wrap will give up long before it hurts the pipe.
Im not really sure if there is enough heat being generated in that area that can actually transfer and soak into the transmission. Maybe reflective heat tape installed on the side of the transmission to bounce the heat back?? Another option, although more expensive, is to pull the pipe down and have it ceramic coated on the inside... Or , if you havent already, get rid of the catalyst... . that should help lower exhaust temps around the transmission. .
Just my . 02