Hi ToyotaMatt,
She's a FJ62 cab & loom on a HJ61 chassis,
I think the spade connector was loose causing it to heat up (I've temporarily tightened it) , the wires felt cool when I loaded the system up, the fusible links got warm.
But that other wire in the Pic with a crack in the insulation comes from the alternator and when I loaded the system up the nut & bolt that connects that to the fusible link gets really hot.
Since tightening the melted one up the volt gauge in the dash is very stable compared to before.
Fear not I will be checking the wires into the loom and replacing the plug with a better current rated one and reuse the links if I can.
The 12ht should require less to run, it's only the shut off solenoid which is powered from the old coil wire

.
I'm just glad I found the issue.