What Alltek did is a good idea and is often used for protection from errant input power. In blowing - it may have saved a lot of valuable IC's.
Based on their online description:
"Our board also has an over-voltage protection circuit. This feature protects your game from voltage spikes that can damage an MPU board. If the Ultimate MPU board sees a voltage spike, it goes into protection mode. When you're ready to reset the circuit, all you have to do is cycle the game off and on."
Cycle power to reset means the board has a solid state fuse, you don't change this fuse.
Regardless - it does look like that one is either open or being retriggered. Since TP1 = 5V, the OVP could be malfunctioning and retriggering each time it is turned back on.