Would compiling my own binary possibly be beneficial to me rather than using a precompiled binary? Or would that not effect how the pass through works?
The pass-through mode turns on when a real tag is presented to the RFID reader. You don't need to recompile the code for that.
You would need to recompile only if you want to change the code (e.g. adding the UART logging).
There are different binaries available for different simulated tags. I don't remember what happens when you have a conflicting roll type in the binary and in your real tag. So make sure, the roll type/size is correct.
Also, make sure your real tag is close enough to the RFID reader. It should be within ~20 mm.
Also, I think the easiest part to screw up is the wiring. Make sure you have the right resistors and wiring.
Ah, another thing I noticed. The printer is blinking if anything is wrong. Including other cables. Make sure you have connected all the cables. Make sure the paper also has holes similar to the original and the paper is pushed forward.