Pauly is right as rain--just look at the belt to see if it's broken (if that is the issue). Take off the cover. If it needs replaced, you should put a couple of washers on the cover when re-assembling it. That allows air to dissipate the heat. They added the spacers in later production...very simple and effective fix. Be sure to clarify the timing procedures with S&S or a manual.
The good thing is that the pistons do not contact the valves when that happens, so you just have to replace the belt, and add the washers.
Call S&S (608-627-1497). In 2015 there was an X-Wedge specialist named Brent at X1242. Or ask for Chris Clemens...they are always happy to help.
As I recall, instead of compression releases, is a variable camshaft that incorporates a bump to the valve when starting, then shifts to normal camshaft lift and duration when the engine starts. If memory serves me correctly, the earlier 121's did not have that cam. Again, someone at S&S should be able to tell you if your engine has the improved cam or not. I would plan to install one if yours does not.