In the top picture, I see no leads in the holes at the EC201 location. With wave soldering, the holes would be filled with solder, even if there was no component. Actually, looking carefully at the back side of the board, I think I see a small chip capacitor across the EC201 pads.
Look at the TO220 device, and check the diodes around the discolored area.
Also, check carefully at the backside of the 4 position DIP switch, seems like there are a lot of things very close to each other, possibly shorting something.