Conclusion to the saga (pre-water test)
Well I reinstalled the unit thought to be bad. This is also the one with the uncrimped fuse link. I reinstalled it because when I mocked in into the boat I received a solid red key on light when and only when the coil wires were attached. (If you remember I tried it on the truck battery and got no light at all. Crane says it doesn’t need the coil and distributor wires hooked up to get the red light to function)
I felt good enough about this to crimp the wires and try it out. Well, after crimping the wires I got no light at all

Completely dead. Strong 12v going in and strong 12v on the switch wire going in when keyed.
She’s Dead
OK, time to install the new/used unit. I cut all the new connections and re-wired the new to me box in with new weather proof connectors. Turn the key on and get a red flash. Turn the other key on and get a red flash. Were on to something here
Pulled the boat out of the shed and hooked up the hose and she fired up with perfection

Fired the other one up and perfect as well.
It was nice to hear them both happy. I am fully confident that the case is now solved.
My conclusion is this… The crimp was absolutely faulty from the factory; Not one hint of doubt here

Once this contact was compromised (shorted) the resistance fluctuations between the batteries and the box caused internal failure to the main power circuit in the box. So my confidence in these boxes (these were the 5th and 6th I’ve installed) remains very high. They just can’t be subjected to poor power delivery abuse.
Is the light suppose to stay on when keyed as Crane tech and instructions say? No; Proven 5 times on this thread not to be so. Must be the position of the reluctor or something because apparently there are some that do indeed stay on. A mystery
I’ll let you know how the water test goes
Thanks for all the input on this!
Dave