I pulled mine out all the way one time and it would not release when I pulled on the cord. I held the cord in one hand and grabbed the reel with my other hand. I then pulled the reel in the direction that it spools the cable off just enough to unlock it. Maybe you will have the same luck.
'01 2500hd ext. cab, 8.1 litre gas, 5 sp. Allison auto
3.73 rear end
Mag-Hytec rear diff cover
Amsoil Dual by-pass oil filtration system
Amsoil synthetics all around
265 watt AM Solar, Inc. system