Re: Mercrusier Alternator Wiring question...
Here is from the service manual.
My guess is either the heavy Red cable or the orange cable is used on the orange terminal in the picture. Which one gets hooked up depends on what is on the other end of each.
The orange should hook to the starters main terminal.
The heavy red probably goes to a battery isolator, if it does, then the orange wire wouldn't be hooked up.
Of course, if the isolator is bad, it may kill your alternator.