Always good to see this question - the myth that TRUNCATE TABLE is non-logged (and so cannot be rolled back) is a persistent one.
Quite clever using 2008-only syntax too - which largely defeats the 'run it then answer' crowd.
Complaining that the INSERT syntax is invalid sounds like sour grapes to me 😛
Paul White
SQLPerformance.com
SQLkiwi blog
@SQL_Kiwi