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Howdy,
I am not familiar with the SRS system or the 760 at all. But, I found the schematic for your car at http://pliki.volvo.techno.org.pl/schematy/volvo_760__1989.pdf.
Starting at the SRS light at grid D-30 on pg. 17 and working backward to the fuse block I found that the SRS circuit is fed from fuse position 5 on brn-blk wires. The schematic shows no fuse at postion 5, it appears to be a shorting bar instead. Now, that might be an incorrectly drawn fuse, but I doubt it. F5 appears to be a test point, nothing more.
The SRS controller is located at grid coordinate C-27, pg. 16. It is powered by the key switch from the HOT side of F18. It appears that the SRS is not fused at all.
I believe that the light is powered by the SRS controller and that F5 was merely a convenient place to put a test point.
I think the function of the "HRC" shown near the SRS warning light is to turn the light ON if the SRS circuit fails. If that is the case, the light is held OFF by the "HRC" and the light will illuminate if anything in the system fails.
I cannot figure out why there is a red wire running from the SRS controller to the alternator. That connection isn't shown in the charging circuit at all. It would form a parallel path with the keyswitch circuit when the key is ON. Redundant power?
After I blindly traced the circuitry I turned to the FAQ. I know you said it was no help but I wonder, did you try the procedures listed? There is a passage in the FAQ that states that the reset will not work unless the codes have been read three times. A bit further along it suggests that the reset procedure sometimes has to be done several times before it clears the light because the timing (three times in 2 seconds and at least 1/4 second contact with ground)would be really hard to get right the first time. It appears the system was designed by someone with a vicious sense of humor. ;-)
Google the phrase "volvo 760 srs reset". Hours of reading enjoyment. Here's one return:
http://volvospeed.com/vs_forum/index.php?showtopic=98035
--sd
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Mr. Shannon DeWolfe -- I've taken to using mister because my name misleads folks on the WWW. I am a 52 year old fat man. ;-)
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