Jawnee21,
Well, that's the protective diode that fried. It's there to protect the Hall effect sensor from high voltage spikes that are usually caused by a bad regulator. If you are out of warranty, a replacement plate and PC board with a two year warranty is $45 plus $6 shipping. You can reuse the rotor. PM me for ordering details or if you are still under warranty.
In the meantime, you could try just cutting the diode out completely to see if it will work while you are waiting for a replacement. If it does work, then just stay close to home until the replacement arrives.
As soon as you get the engine running again, check your battery voltage and look for a high (>15V) condition which could indicate a bad regulator.