The pins shouldn't move much.. If I recall, the pins should move about 1/8" to 1/4". You could take a pair of pliars and (carefully!) twist the pins while gently pulling out from the valve body to make sure they are all the way out.
Regarding the rod, you would have to jack up your car, put it on jack stands and then jack up the wheel itself. When you have the car in the air and the suspension is fully extended, full flow should be going to the calipers. If you jack up the left-rear wheel, it will put the valve at rest again and you'll see the mechanism work.
Until I slid the jack under the tire, I couldn't figure out how the mechanism worked, it doesn't look like it SHOULD work because it's so crappy.
Jeff