Cardine joints in the front axle check for lift and play with a bar you can see it behind the hub, have you greased them ?
I take it you've got rod actuated diff locks on your 404 with the v treads you have fitted and when you have good traction avoid full lock situations with difflocks in not only because of the strain but you can dig yourself in a hole very quickly, it's not so easy to do on a 404 but I modify the diff lock actuator so they can be engaged separately that way the rear can be engaged any time without worry only increasing the turning radius and engaging the front when in trouble !
If you where deep water wading check your fluids !
Moose