Yes that is the part you need the special tool for. Since your new radiator came with the connectors you can cut the old ones off. Don't cut the rubber hose or the metal that is molded to the hose, cut the brass connector right at the radiator. The easyest way to do that is remover the radiator with the hoses still attached. There should be connectors where you can UN bolt the trans lines from each other I think they were something around a 7/8" nut.
I'm not good at explaining so I'll go take a picture of mine right now and try to post it here by 7:00 p.m. (Pacific Time)