As long as the band adjusted/was able to torque down and back off, the band is not broken, I would suspect a problem with the valve body gasket being blown. Drive the truck in the manual 1st gear range and wind it up to 15-20 mph. Let it coast,you should feel engine braking/the truck hold back. If it doesnt,the valve body gasket is blown at the low reverse servo piston(rear)of the valve body or possibly along the left side above the shift solenoid. Common problem, they also have some other updates for the valve body depending on the production date of the vehicle.
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