According to the following thread (https://www.cnczone.com/forums/tree/346952-cnc-5.html):
"It seems that I first need to do a "G1 Z-100" to distance the spindle from Z0, then "M19" to orient spindle and "G30 Z0" to put Z at second reference point to allow tool change. Then I can do "T[xx]M06" to change to the tool needed."

I have a couple issues I need to see to before I can fully attempt this route. I attempted M19, which failed due to "OPERATOR MESSAGE NO. 2005 SPINDLE ORIENTATION LS ERROR (CONFIRMATION LS NOT OFF)"
I assume LS to mean Location Switch, which very well could be dirty/blocked. The spindle did a 150% rotation while hunting; if it's an inductive prox I'd say it's got a chip in front of it.

I also attempted manually releasing the pull stud by hitting the roller switch; it's leaking air somewhere in the head and will not actuate (OR it is actuating and the holder is just gummed up).

I oriented the spindle manually close to the dog orientation, then tried G30 Z0; this failed due to going beyond the Z+ limit. I can look into the ladder and see if the spindle orientation switch overrides the Z+ limit.

Thanks m1n1m for sharing the information!