Somebody didn't bother to put a bead on the end of that tube, and they didn't use proper hose clamps.
Those clamps are infamous for having the hose cold-flow though the slots cut into the band. They ought to be illegal. The hose diameter decreases under clamp load, the clamp loses tension, then the hose slides off the non-beaded tube. ATF is SURPRISINGLY flammable. Good thing you didn't burn the truck down.
Bead the tube--a double-flaring set works well for this. Just squeeze the tube a little, just enough to bulge it a bit.
Then use SHIELDED clamps of the proper size. There are shielded worm-gear clamps similar to what's on there now, there's the "fuel injection" clamps which may or may not be available in a large-enough diameter. There's various kinds of spring clamps. Point is, you want a clamp that doesn't allow the rubber to push through the slots in the clamp.
Be sure to use hose rated for trans cooler/PS return usage. Not only does it have to have chemical compatibility with ATF, it has to be stable at high temperature.