So I spotted a 2002 V70XC for sale, described as having transmission problems. I knew somewhat of the B4 band problem and figured it was either a smoked band or someone had removed the bolt on top of the transmission. I checked the car out and it shifted pretty well, except for the complete lack of 3rd gear. I decided to pull the trigger since it was a great deal, and once I got the car home I found marks indicating someone had tampered with the bolt on top of the transmission. This definitely bolstered my courage a bit.
So I made a tool to check the play of the band through the B4 servo bore, as described by another member (precopster) on the forum. The tool is simply a 1/4" piece of brass marked at 85mm. This tool can be inserted into the bore of the piston, allowing you to check the status of the band. My band offered no resistance, further confirming the removal of the band capture bolt.
I had a friend over helping me, but we didn't have much luck trying to secure the band so we could install the bolt. We decided to call it a night, but I couldn't rest knowing how close we were. I spent a few minutes looking at a picture of the band and conceptualizing how the band sat in the housing. I devised a hook to try and come all the way up through the piston bore, to grab the edge of the band former where the hole resides. It took a lot of awkward fumbling, but I was able to grab the band with the hook while simultaneously installing the bolt. This solved the problem problem of the disengaged band. I won't go into details on the snap ring installation, but it was a real pain in the ass for me. It wasn't installed right the first time and shot the B4 cover off on my first test drive
The other threads I read indicated about 6mm of play was standard for a good band, and closer to 20mm was completely worn. My band shows about 12mm of play, and there is a slight flare in the 2-3 shift from this. The fluid is very nasty, and I'm hoping a flush and fill along with a transmission reset will take care of it. It's hardly noticeable and the car is definitely drivable. The only other problem I have is a whine during sharp turns, I think the rear differential has been leaking for a bit. I'm really excited to be back in the Volvo club, my last one was an 01 V70 that finally blew a headgasket after 270k miles. It would have gone longer if I had taken care of the radiator and not let it overheat
I've attached photos of my tools and a diagram of the area in question to clear things up a little. I could probably do this job in about 2 hours if I were to do it over, as it was it took me closer to 6, most of which was trying to get the snap ring back in. I hope this information is useful for anyone looking at this problem!

The picture from precopster I used for reference. My thought was to grab the edge of the band near the end of the stamped former piece that the anchor rides on. This requires sticking the hook tool pretty far into the piston bore. It's a tricky endeavour, but once you get it in the right spot with the right tension, you can use your right hand to hook and pull the band into place and then insert the bolt with your left, leaning down near the front of the car on one knee. I had a screwdriver in the anchor bolt hole to help nudge the hole in the band towards the center, and then pulling on the hook kept it there. You can insert the tool into the bore, and you should run right into the anchor. You've got to turn the tool and clear that to the the side, then push the tool another 2" or so into the bore. Once you're in the right spot, rotate the tool so the hook is facing down, and pull. It requires a little bit of windage on the tool to get the hook to grab but you will definitely feel it grab a hard edge.
The tools I used. If anyone wants them I would be happy to send as I don't need them anymore.
A sketch of the section in question.






