Is this the sound of a broken speedo gear?

[Chlsnk]

I was driving along today and hit a terrible bump and notice my trucks speedo stops working I was thinking mabey the cable had popped off behind the dash but after I dropped my friend off I rolled the window down and turned the music down I could hear this constant whine. The best sound I can compare it too is a clicking noise made by those noise makers you spin around.(party favor/new years eve things?)

It only makes this sound in drive' not reverse or neutral. It is full on tranny fluid and it dosen't smell burnt or look discolored.

I am thinking this might just be the speedometer gear and it got ate up. Does this sound like what could be causing the problem?