HI Sam.
The Tech 2 is a great tool and could be economical, however you must be confortable in using a such power full tool.
According to your says the retractable roof does not complete its sequence and an additional handling has to be made to get it work, the buzzer will not work because all sequences are not completed.
Otherwise the system seems working good, check the level of the oil pump if it is low that could means leaking hydraulic tubes, check for oil stain or oil in the lower compartment of the pump.
Check for the switches and sensors that guide the system for its operations and sequences, your workshop manual indicate their location and function.
Having your car at a GM dealer, would be fine to find the specific problem and he has the parts to fix your XLR and he will also update the retractable roof data of your XLR, as since 2004 many datas were change, if you manage to find the problem and the fix, it will still be wise to visit a fine GM dealer.
The retractable roof system is a German made system very similar to the Mercedes BMW Volkswagen and many other makes, if you can find a GM dealer these other dealers could be of some help.
Good luck
IAN