The shutter release button mechanism on my Perkeo II isn't going down far enough to make contact with the metal piece (at about 10 o'clock when looking at the lens head on) that trips the shutter.
I can trip the shutter by pressing this part with my fingers or a pencil with no problem, but this would cause unnecessary camera shake.
I do not know the Perkeo II in detail but on a Perkeo I folder I once owned the shutter release mechanism was adjustable. There is a pivot inside the front door which holds the lever linking the shutter release shaft on the body to the shutter lever. The position of this pivot is adjustable, thus changing the ratio between both arms of this lever.
In some cases the shutter/lens assembly is simply misaligned a bit. With reasonable force (and gripping it firmly around the shutter housing while holding the fold-out mechanism) you should be able to turn it a few degrees.
Thanks for the info. I tried this advice as well as a post of yours I found in the archives from June '03 and the shutter release works fine. Now I can try out some film.