The camera and lens can only be used in mirror up mode.
The lens' cable attachment does not return with removal of
the cable release. No big deal as I always shoot with a cable
but as it is the cable must be attached to the lens. If detached
the camera shutter closes after the 60 second limit has been
reached. Might a half drop of light oil fix the problem?
Or is oil a no-no with camera gear? Dan
Sometimes the little collar with the red ring on the lens for the mirror lockup sticks. Have you tried screwing in the cable release and then unscrewing it? When mine do this I've found that re-attaching, then slowly unscrewing the cable release will let the collar retract.
Don't try to oil it, take it to a camera repairer, and have it serviced by someone who knows what he's doing, camera lubricants are special oils, and it would be foolish for you to do so in my opinion.
I just recently had the same thing happen with a K/L lens the first time I used it. What I finally did to get it to go back in was screw the cable release in really tight (tighter than I would for normal use), and then it twisted back down when I unscrewed the cable. Now it works fine with normal attaching and removal of the cable release.