#Michael Horley
According to the circuit diagram there is indeed a pole of the Kraus and Naimer cam switch the apron lever operates that is an open circuit when the lever is in the middle position, and closes when the lever is moved down or up for forward and reverse. In the original Colchester control circuit this energises the main contactor. There is another circuit which makes only when the lever is in the centre neutral position. This is wired into the emergency stop/no volt release circuit so it can only be reset when the apron lever is in the centre "off" position so the motor can't restart without a second confirming action.
There are also two poles which close circuits when the lever is moved to the "forward" position, and another two poles which close for the "reverse" position. These switch the motor connections directly, hence these four circuits are wired as a two pole changeover switch.
The High/Off/Low switch under the front of the machine is a different animal, but it also switched the motor connections directly.
I converted mine to VSD operation, so I used one pole forward to tell the VSD to run forward, and another pole to tell the VSD to run reverse, i.e. a single pole changeover switch. The other changeover pole is spare. The pole of the cam switch which was closed in the off position is wired into the E Stop circuit as per the original and gives a "only reset in Off" function as per the original scheme. This forces the user to select "Off" before pressing the reset button, and (with an associated control relay) gives an emergency stop function with a second action to achieve a reset, also a no volt release function. Note that this means the switch carries mixed voltages but these switches are designed for this duty and this is OK.
I used the original speed selection switch to tell the VSD to run at either 50Hz (= Low) or 100 Hz (= High). These were simple contact closures into the VSD digital inputs. Overall I tried to stick to the function of the original controls even if the wiring was different.
By the sound of your description you've only found the circuit which closes when the apron switch is in either run position. This is only part of the story, and either there are more wires to discover or the switch is faulty, or maybe the previous owner had OAWS (Over Active Wirecutter Syndrome) and ripped out some wires he didn't orter.
Unfortunately the wire colours mean nothing as they are not specified on the circuit schematic and I wouldn't have bothered to keep to them anyway. I did this stuff for a living and just followed my own star.
Understanding the Kraus and Naimer cam switch is a bit of a dark art, If someone has been ripping wiring out and not keeping a record of which terminal did what then you're struggling somewhat. However I notice Tony at lathes,co,uk in his notes on the Mk1 Bantam not only identifies the K&N switch part number but also an alternative. That might be worth pursuing. Alternatively Google Kraus and Naimer in your area and find a distributor, they should be able to give you a circuit diagram for the switch function of the particular part number of the switch you have to hand. Otherwise if you want me to diagnose the switch function for you I can (probably) do that (they're a bit of a beast to decode!) but you'll have to remove the switch and post it to me, I'm sure I've seen a function diagram for this switch in the K&N catalogue but I don't have a copy to hand.
Good luck and do keep us posted.
Rgds Simon