That wire is just there to let the alternator know to excite.
You could put your DMM on the grn/red wire with the key off. It should read zero volts. I suppose the ignition switch could be bad, causing it to stay hot at all times but you should see other circuits staying hot when they should be off.
I would also do current-draw testing again. This time get a baseline. Then disconnect the rectifier plug and see if the draw changes. If not, disconnect the regulator plug and see if it changes. If neither change, the issue should not be in the alternator circuit.
I left the car at work for the night. The last draw test I did before everything checked out, I had a bad draw when the regulator plug was connected. I have replaced the yellow/white wire all the way to the solenoid and new fuselink. The white/black wire is the stator. The only thing left is the green/red wire however, the battery light is good in the dash, that should indicate that the resistor is good too right? I want to double check the current/draw situation but if it indicates that the draw is in the regulator circuit where do I go from there?
thanks
crap like what you went through is the kind of thing that no one but the end-user can diagnose. I could have made 100 guesses about what was wrong and never guessed correctly.