Since you have juice, you can possibly rule out the overdrive relay. That is the most common reason for an OD failure in a 240. However, if it were my car, I'd pull the relay and look for burn/scorch marks. FYI - the relay can work fine when cold but when it heats up it will fail.
Also have your mechanic check the front section of the wiring that runs from the shifter through the shifter tunnel under the car to the solenoid. On my 1990, after years of rubbing on the lower metal edge of the tunnel (underneath), the wires corroded, stripped and shorted out causing my OD to fail.
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