I was also wrong about the power feed from the PSU to the main controller board. The hotline going to the main controller board is +12, and the black wire is ground from the PSU.
What's been so confusing this whole time is that the cables they use to connect to the PSU are not the same color wires as the wires inside the PSU.
But this is how they actually map out, and the melted wires going to the main controller board are red and black, where Red is connected to the black wire which is +12 from the PSU and black is connected to the white wire, which is GND from the PSU:

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