White wire goes nowhere, the 93-94 XP motors had five wire dual coil stators, much better spark, much stronger output, in 94 they used leftover looms from the five wire stator on the 94 GTX models and used the cheaper single coil stators and just cut the white wire, you can stop looking now, it goes nowhere.
Like I said disconnect everything on the MPEM but the red wire that goes to the positive battery post on the solenoid and the black ground wire that grounds at the coil and the ground post inside the elect box, if it blows the 5amp fuse then the MPEM is dead due to a bad internal diode, If it doesn't blow the 5 amp fuse then you have something shorted to ground, the red/purple wire is system power for the gauges and anything else wired in, black is system ground.
Anything from a speedo sender wire pinched under the jet pump to a gauge shorted out can blow the 5 amp fuse.
BTW Yamaha guys this is what the inside of an electrical box should look like , not like the inside of Davey Jones locker lol.