TOPIC:

What’s the voltage at the light blue square?

He hasn't checked it. He stopped at the fuse due to the fuse getting hot, but that is the direction of the fault.

That’s a critical point...

Every point is critical. That's why we test. Otherwise, it's just random guessing as to what is wrong and that can get expensive!

If anyone is curious as to the method, look up voltage drop testing on youtube.

What is interesting...is that you were sooo close to finding the issue.
It may be your battery terminals.
If you have corrosion on them, the voltage drop will be there. That's why I have you put the meter probes on the battery posts...not the battery cable terminals

When you have a chance.

Bike ignition on
meter on DC V
On these next group of measurements, anything over .5 volts dc is bad and is a sign of high resistance

Black meter probe on positive battery Post
Red meter probe on positive battery cable Terminal
Note voltage -.0005V

Black meter probe on positive battery post
Red meter probe on the connector in the teal box(white wire)measure both sides of the connector
Note voltage 0, -12.5v (CONNECTOR DISCONNECTED, MEASURED BOTH SIDES)

Black meter probe on positive battery post
Red meter probe on the fuse in the black box
Note voltage MAIN FUSE 0.430 V, 0.700V, HEADLIGHT FUSE 2.1V, 2.3V, TAIL LIGHT FUSE -1.82V, -1.83V

Those readings will cover the positive circuit completely.
NOTE: WITH HEADLIGHT AND TAIL LIGHT FUSES REMOVED, I GET 12.5V ON MAIN AND THE MAIN FUSE DOES NOT HEAT UP.

Now the ground circuit

Black meter probe on negative battery Post
Red meter probe on negative battery cable Terminal
Note voltage 0V

Black meter probe on negative battery post
Red meter probe on frame ground mounting point(follow ground cable from battery to frame mounting point)
Note voltage 0V

Also, check the value of that fuse you were metering. There is a possibility that the fuse rating isn't what is supposed to be in there. The fuses protect the Wire. Not the loads.
If the fuse values are higher than they should be---fire...the wire will melt anything in it's path. I know this--I set my first car on fire. You learn pretty fast what fuses are for.
It looks like a 20 amp fuse on the schematic.
Check your other fuse values as well.
FUSES DO NOT HAVE AMPS, JUST SAY 32V, BUT LOOK LIKE THEY ARE HIGH AMPS BECAUSE OF THE SIZE OF THE INTERNAL BRIDGE, NOT A WIRE, BUT A FLAT PIECE OF METAL. ALSO, WITH THE HEAD LIGHT AND TAIL LIGHT FUSES REMOVED, I GET 12.5V AT THE COILS, BUT I STILL DO NOT GET A SPARK. I AM THINKING I HAVE A SHORT IN SOMETHING THAT CONTROLS THE HEAD LIGHT AND TAIL LIGHT - IGNITION SWITCH??? IF SO, HOW DO YOU TEST IT AND HOW DO YOU REMOVE IT? I TOOK THE PLASTIC COVER OFF THE LIGHTS BETWEEN THE SPEEDO AND TACH, BUT THE IGNITION SWITCH IS FARTHER DOWN.

What is meant by the statement "fuses do not have amps"?

Rick H.

I think he means there is nothing stamped on them indicating the maximum load.

Somebody may have put some really high load fuses in it when the problem first began, thinking it would be easier to do that than to fix whatever was causing the proper fuses to pop.

Yes, I mean the fuses do not have any amp ratings on them.

magilla wrote: FUSES DO NOT HAVE AMPS, JUST SAY 32V, BUT LOOK LIKE THEY ARE HIGH AMPS BECAUSE OF THE SIZE OF THE INTERNAL BRIDGE...........

Those are NOT the correct fuses! Your bike has a 12 volt system not a 32 volt system, So remove those fuses and install the correct fuses before you end up frying more stuff. Obviously the previous owner was a nitwit. Ed

Check the left handlebar switch connector. You can unplug it, but you need to jump the 2 black wires. Looks like a clutch operated starter lockout.

Grab new fuses.
Clean the fuse holders with sandpaper.
I'm going to look over the schematic again.
Your headlight and taillight circuit are suspect.

Getting a 32 volt fuse is fine. You either want a higher voltage or equal voltage never a lower voltage.
Match the amperage exactly though.
I'm still weaving through the schematic to figure out your light circuit issue.

Double check and clean your point gaps.
When you did you readings at the coils on July 8th, I didn't see the points open reading I was looking for.
If your point was open, the voltage on the negative and positive side of the coil would be 9.38v.
If the point were closed, positive would be a little lower than 9.38v and negative would be 0.
You had one coil that was 0v/0v. That may have been a loose connection at that coil's positive terminal.
Anyway, your spark happens when the point contacts separate. They charge when the touch.
You should be able to get the coils to fire if the points are opening and closing.