I was looking at your diagram. Seems OK. Not really sure if the Pickup coils are hooked up right. I have to assume TC Bros did their harness properly. Because you are using different color wires for the pickup coils, we can't really tell whether it is right just from the diagram. If the PU coils are not hooked up correctly, it won't work. Each coil has to connect to the right input on the board. They are 25 degrees apart and just won't drive the TCI module correctly. It won't burn up the board, but it just won't work. With respect to what Jim was pointing out earlier, you do have to be careful checking the components on the board. In the case of ZD4 which has that darkish look about it on the photograph, if you put an ohmmeter across it, you will likely measure the large 82 ohm resistor that is parallel to it. If ZD4 is blackened, and I can't really see that clearly, then it likely burned up. Not a big deal. Just replace the diode. These diodes cost maybe a buck at most, but you have to be careful replacing them. they only go in one way. Your measurements on the output transistor didn't sound great, but they didn't sound bad either. More like something wasn't quite right in the way you measured it. Jim's option of the alternate TCI might work. The guys seem to have put a lot of effort into it. If you are looking at buying a replacement TCI board, this might be a good option. If you really want to get this board working, and have the time to spare, you could send it to me and I could check it out on the bench properly, and upgrade the electrolytics at the same time.
Drifted off to sleep last night realizing I made a mistake in this post. That 82 ohm restor is not in parallel with the zener diode. It is in series. sorry. There is however a capacitor in parallel that will throw off any on board testing. In truth, all on-board testing with a meter should be taken with a grain of salt. It takes a bit of experience to know when to trust what you are seeing on the meter and when not. All component testing starts with a good visual inspection, which is why Jim immediately pointed out a suspicious looking zener diode. Off hand, I would say the rest off the board looks good and is easily salvageable. ....Got to stop falling asleep dreaming about motorbikes and TCI stuff.