You are so right-it was the resettable fuse. The arcing was evidently on the back of the fuse and the light was bouncing off the front of the board. I thought it was happening on the back of the board and shining through the holes. No wonder I didn't find the problem the first time or two I pulled PDM 12.
Anyway, the system's been running for a day or so and everything seems to be rock solid. It doesn't matter which power supply gets plugged into a given PDM.
I think that was the intermittent fuse connection.
I have to say again-I absolutely LOVE the FSM. One of the PDM plugs at a new controller was not quite plugged in, the piezo screamed, #8 alarm LED lit up, what a wonderful problem solver!
Thank you Alec, thank you so much for designing such a high powered system and guiding me through the building process.
Thank you KISS for sharing your keen toubleshooting skills and ideas.
Thank you one and all who helped or followed along. I think we finally got it. It's been a real privillege for me-thank you guys!