So I decided to finally buy one, but...am too stupid to use it...well, you asked...
OK. Here goes: Remove the inner cane from the outer tube. Lower the tube into the brew. I use a spring clamp to keep it from hitting bottom to keep sediment out. Hang the clamp on the rim of the bucket so it does not hit bottom.
Insert the hose end into the secondary container. Push the (lubricated/wet) center cane all the way into the outer tube. Voila! It should work.
After you rinse/wash it be sure to keep the parts disassembled. If you put the syphon together the seal will be stored in a collapsed state and may not seal when used again and/or dry out.
I wouldn't worrry about oxidizing yet.