Complex sentence: Only Petty, Harrison, Dylan & Lynne took part in the song, The only Wilburys song on Vol.1 not to feature Roy Orbison on lead or Backing vocals.
Split into simpler sentences: Only Petty, Harrison, Dylan and Lynne took part in the song. This is the only Wilburys song on "Vol.1" not to feature Roy Orbison on lead or backing vocals.