sounds like the valve body is shagged mate, my hj wagon has a trimatic and i popped it 3 times, first time i pulled it apart and the planetary gearset was in about 1000 peices, second time top gear and reverse clutch packs were metal on metal, the third time however i would select reverse on the old collumn shift and it would take like 30+ seconds to jump in. i had the valve body apart and there was a whole bunch of metal shavings (probably from previous beltings) clogging the oil vains that select reverse thus losing oil pressure. i cleaned it out and changed the bands cos they were slipping also when i tried to do burnouts and it was fine. it slipped when it downshifted from top to 2nd ( i think i buggered the band adjustment) but i dont drive her anymore. but yeah if u wanna crack it open and take a look you might figure it out, if u get stuck take it to an auto joint and just tell em whats wrong costs more coin that way tho