I copied a couple things
from the TSM web page trouble shooting if you need it. Gravity Bleeding
Calipers, especially rear calipers with all the parts and crevices can trap air inside them. Gravity bleeding is the best method we have found to bleed calipers. To gravity bleed, take the caliper off the bracket but leave the flex hose connected. Take the top off the master cylinder and keep filled. Hold the caliper so the flex hose is going slightly uphill to the caliper. Open the bleed screw so fluid and air will slowly come out of the bleeder. You can move the caliper around, hit it with a rubber hammer to knock air bubbles loose. When the fluid runs clear, do the other side and then do both calipers again. (Do not push the pedal until you install the calipers on the rotors) Remember that air bubbles rise. The bleed screw must be at the top where it breaks into the caliper cylinder to get the air out. (The bleeder might be pointing to the front) Rear calipers have their mounting screws one above the other. Front calipers sit on ap proximately a 45-degree angle.
Adjust Caliper Parking Brakes
The GM rear caliper with integral parking brake is self-adjusting when you use the parking brake. As the pads wear it will click to the next stop, but they do not always work and they will not work if you do not use your parking brake. To adjust the parking brake the fast way, remove the arm and turn the shaft as far as possible and reinstall the arm.
Rear Caliper Parking Brake Lever Adjustment
Note: This procedure must be performed as part of the rear caliper replacement operation. Failure to adjust the parking brake lever, before you apply the hydraulic brakes, can result in no parking brake and possible premature brake wear or damage.
Push the lever to apply the parking brake. Each time you push the lever it should move less. Push until the lever only moves 1/4" from the stop. Go to step 2 if this does not work.
With parking brake lever removed, tighten adjusting shaft using a 9/16 wrench until pads are tight against rotor.
Put lever arm on adjusting shaft as close as you can to the stop. If the arm is no more than 1/4 inch from stop, proceed to step no. 6.
Remove Master Cylinder lid, fluid level should be 1/2 full. Compress piston away from the rotor by using a pry bar or large screwdriver between the caliper and the disc pad.
With the screwdriver still in place, use 9/16 wrench to turn the shaft in opposite direction of the parking brake cable. Turn screw about 1/4 turn. Now move shaft back to the tighten position.
Attach lever arm and check the location to the stop. If arm is still more than 1/4 inch from the stop, repeat step no. 3 through no. 5 until the correct arm position is obtained.
Attach the emergency cable and spring. proceed with final adjustment of brake calipers.
Note: Make sure Master Cylinder is full of approved brake fluid prior to road testing of the vehicle.
Note: An easy test for proper lever position is to grasp the brake pad and try to shake it. If any rattling is heard, the parking brake lever requires adjustment.