I poked around a little, and found this thread... it covers that wiring (just scroll down a bit on the first page and you'll see the diagrams):
I read TIS FSM I have I used Search I cannot understand which wire connects to Bank 1 ? Is it engine wire 82121-60342? I fixed this 3 times already it works for a few mounts and then again it failed I am wondering if it is possible to take it out form rig and put it on the table to renew...
forum.ih8mud.com
If only one of the wires is frayed, I would strip back the covering, solder in new wire and heat shrink a new cover on to it. Those wires have quite a bit of "play".