Are my tps numbers right?

Is blk/orange the signal return on your year of stang?
5V for the VREF is correct.
The TPS output signal should be around 1.0 V at idle (give or take roughly 0.30V).
 
So if you probe orange to chassis-ground and get 5V, but get .12V when probing orange to signal return, there's likely an issue with the signal return circuit.
 
If the sig return was really damaged, I would surmise you'd be throwing codes for myriad sensors. I'd want to be really sure before going forward - it gets kinda involved to diagnose further.