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I could be wrong, but first impression from a photo indicates a capacitor blew and shorted (probably old and leaking or dried-up), cooking everything on that power path. Interesting way the IC chip bloated and vented at the top-left corner. Not entirely unusual as the years go by, and one reason they use a fewer electrolytic (metal can) capacitors in more modern units, but you can't avoid them all.

Similar things happen with other electronic stuff, such as a tachometer I repaired last year. I wouldn't try to repair that one, with at least a dozen fried components and probably more we can't see. Replace with a correct type if stock, or (if me) I would convert the case and connector to hold an aftermarket ECM for custom or modified applications. Good luck!
 
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