Here it is...

Sub Object_OnScriptEnter
  desktopx.Object("panel_back").top = -360
End Sub
Sub Object_OnStateChange(state)
 If state = "Command executed" Then
   DesktopX.Object("panel_back").Visible = True
 End If
End Sub
Function Object_OnLButtonUp(x, y, Dragged) 
  If Dragged = False Then
    If desktopx.Object("panel_back").top = 0 Then
      object.KillTimer 10
      object.SetTimer 20,8
    Else
      object.KillTimer 20
      object.SetTimer 10,8
    End If
  End If
End Function

Sub object_ontimer10
  If desktopx.Object("panel_back").top < 0 Then
    desktopx.Object("panel_back").top = desktopx.Object("panel_back").top + 8
  Else
    object.KillTimer 10
  End If
End Sub

Sub object_ontimer20
  If desktopx.Object("panel_back").top > -360 Then
    desktopx.Object("panel_back").top = desktopx.Object("panel_back").top - 8
  Else
    object.KillTimer 20
  End If
End Sub

Yeah, agree with BDBF, that should work

thats the key or make the timer faster if that is too slow