Can you post a picture of the transformer module?
Would be interesting to see where the spinning motor power wires come from the transformer especially their wire colors.
Some solenoid expander boards (SEB) have the solenoid 43V connected to one of the switch legs on the relay with a wire link. Essentially this link wire connects pin 4 to pin 9 on the plugin connector. This causes havoc with some games when the link is installed when it shouldn't be.
Your original SEB shows that wire link is cut which should be right (you can see the cut jumper link between the diode and the relay on your old board).
Does your replacement SEB have any jumpers links?
Where the yellow-white and yellow-red wires for the spinning disk motor connect at pins 4 and 5 on the SEB, do you measure any continuity to other pins on the connector (other than potentially pin 7, there should be none).