Well I just played with my 500 a little bit and I can see that if you push those pins into the receiver they will go far enough to detach one side or the other of the elevator.
You don't have to stand there and jiggle the gun like a moron. You just have to stick your finger in the receiver and push the elevator until it locks in place.
I got mine to go back in the first time, easily, so on the second try I actually ran the action in until it started to jam on the displaced elevator.
I hit the release, racked it forward, and pushed the elevator back in. I didn't jam it hard enough to scar the metal but I did jam it hard enough to remove the bluing. I thought it was extremely easy to unjam.
Mine is a relatively new gun with fewer than 200 Rounds down the tube. As things wear in it might get easier to jam.