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I'm thinking maybe it's ignition, based on your sayng you got, "A strong yellow spark at the plugs". I don't know about the "strong", but the "yellow" doesn't sound too great, considering it's in open the open air with no compression to fight against.
Also: "I do crank it and then let off the key, it sort of farts a couple of times like it wants to start but, it doesn't start (WTF ?)"
"WTF" could be a slight boost in the +12V at the coil—for the last one or two revs when the starter is no longer hogging most of it.
The Rex ICU gets the CrankPS pulses and does two things with them:
1) Propagates them to the Regina ECU, as an "OK to pump fuel" signal, and to "time" the injector pulses.
2) Also sends control pulses to the ignition amplifier, which "triggers" the coil to generate the high voltage spark.
There is NO diagnostic test or codes set if #2 fails (or partially fails). It's the same with LH and EZK: a power stage failure means a no-start with wet plugs. I think you may have a weak/no spark due to poor contact at the coil primary terminals (see pics below).
Try this—remove the coil (two torx-head screws in diagonal corners), remove the coil, and scrape/brush the two terminal studs and the spring clip terminals where the studs make contact with the amplifier. Apply a little dielectric grease and reassemble.
My fingers are crossed.
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