I just bought my '01 v40 and the owners manual has no mention of how to check the fluid level. All-crapa (data) says to use the dipstick, but I do not see one anywhere. When I put it up and look from underneath, I see a anodized plug with a large Torx plug sitting horisontally. Do I open this and do the finger tip check?

I assume you have an Automatic?

There is a dipstick in about the middle of the trans hidden by the lower Radiator hose. It is yellow.
Check it with the car running.

That is only for Automatic.