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Who rebuilt the O/D?
It sounds like the O/D isn't building enough pressure to engage and that can be caused by numerous parts and even a defective case.
There are a few things that can be checked without removing the overdrive like the solenoid, the pump check valve and the relief valve assembly.
The buck you describe might be the release of what little pressure the O/D might have built up.
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Eric Hi Performance Automotive Service (formerly OVO or Old Volvos Only) Torrance, CA 90502 hiperformanceautoservice.com or oldvolvosonly.com
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