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"Waking the Dragon" does not have an activation effect. Nice try, though.
Even if the entire effect of "Waking the Dragon" was "copied" to "Transaction Rollback", it wouldn't trigger, since it's condition clearly states that "this SET CARD must be destroyed by an opponent's card effect". Transaction Rollback is not being destroyed in any way and by definition, it cannot be set, if you have to activate it first.
Transaction Rollback can not copy the SS from extra deck effect of waking the dragon because it can only copy the activation effect of a trap. Secondary effects like it being set and destroyed are not activation effects so it can't be copied.
I understand that might be a little confusing since its the only effect on the card
Waking the dragon
"If this Set card in its owner's control has left the field because of an opponent's effect, and is now in the GY or banished: You can Special Summon 1 monster from your Deck or Extra Deck."
Transaction Rollback
Pay half your LP, then target 1 Normal Trap in your opponent's GY, except "Transaction Rollback"; this effect becomes that card's activation effect. You can banish this card from your GY and pay half your LP, then target 1 Normal Trap in your GY, except "Transaction Rollback"; this effect becomes that card's activation effect. You can only use 1 "Transaction Rollback" effect per turn, and only once that turn.
This is a little confusing - Waking the dragon does indeed have an activated effect as denoted by the colon, but that is not considered an "activation effect" according to the game. "Activation effect" refers to when a card is played from the hand / flipped face up. Monster cards are not considered activated cards however.
Waking the Dragon only has a singular effect who condition does not allow it to be activated on the field so it has no valid "activation effect" to target.
Additionally, while Rollback does ignore cost, it cannot ignore conditions for a card activation or its resolution. If Rollback was on the field, it would fail the conditional check anyways. If Rollback was in the grave, then it comes back to the initial rule.