Make sure the on/off lever is in the OFF position. This is for manual runs only. Unscrew the solenoid and make sure the OFF sits on the right of the stopper, and when you move it to the left the ON stops on the left of the stopper. Swing the lever back to the right of the stopper. Rescrew the solenoid tight and
Yes it could be the solenoid, depending on if you used a new solenoid or the one from the old valve? Putting the solenoid on a valve that is operating correctly and watching how it behaves can help determine the status of your solenoid. It could also be that a terminal in your circuit board is fried; switching the zone wire with working zone wire on your circuit board can help you test that.
After installation, many times the valve needs to be cleaned out inside, under the diaphragm, and the diaphragm needs to be reseated. Don't lose the pieces, and you can refer to the exploded diagram in the slideshow for the 2400T on this page:
http://www.irritrol.com/valves_2400_2600.aspx