Well, no. The arm does not "snap" back, it is powered back in and the lid closes smoothly, so it has to be driven back under motor power.
The basic version uses a reversing switch arrangement. The forward direction is implemented by the main switch on the top of the box, when the arm cancels it, the motor reverses and drives the arm back until it hits the internal limit switch, shutting off the power completely.
If you want other actions, then you have to arrange an alternative power switch as Larry mentions.