OK, I know this thread is necrotic at this point. But I recently bought an old Halcyon BC with the stainless inflator, and it was "stuck". Not a slow leak, quite fast, I could see the wing inflating as I watched. "Stuck
is a misnomer, though. I can't see how the button could get stuck, with the relatively powerful spring pushing it to return. What's happening is the supply rod pushed by the button has two tiny rings (not o-rings, ordinary cylindrical gaskets, I think) that have failed, so it leaks into the bladder. One of them came off in three pieces (see picture). The reason appears to be that there's no mechanism to stop ingress of seawater until you get to the first (right-hand) ring. Saltwater and debris will be all around the button and spring, basically no matter what.
I think the design is defective. The power inflator failing to inflate is a problem, but not a major one. But failing "high" can lead to an embolism really quickly.
Seems like you'd really want some sort of membrane, like the environmental seal on a regulator. That seems to be how my Aqualung one works, the whole button mechanism is inside a rubber seal. That seal can break, but you'll notice, I think. If the little gaskets in the Halcyon design fail, they're inside the inflator, and further inside the button assembly. Pretty much impossible to detect unless you're taking it apart on a regular basis. Which you can do without detaching and re-adhering the inflator to the hose. Just be really careful screwing the inflator button assembly, as it can very easily strip the plastic threads. Especially with the large diameter of that nut.
I'm half tempted to order the service kit (looks like the only one online is in Canada) and see if I can get it working again, even with stripped threads, but only out of curiosity's sake. Time to get a replacement. Which is a shame because this is a beautifully machined piece of equipment. Just gorgeous. Feels like the knobs on my dad's old hi-fi, for those who remember what those felt like.