Hey folks starting a new string becasue a bunch of folks jumped on my old one and took it way off track

Looking to replace the motor/pump for my convertible. I have two questions.

1.What kind of fluid is used in this setup. I assume a 10 weight Hydraulic fluid. One person told me transmission fluid but the fluid in the existing system does not appear to be transmission fluid and more like a brake fluid of some kind (based on color only)

2. Is there a bleeding process required to get any air out of the system?