I'm game for whatever the recommended, ideal option would be to get this thing up and running!
Of course....talk to me like I'm totally dumb if this requires any tools and parts. LOL
I have no experience, but I'm reading up on it and learning. 
To sun it up when repaired it will look something like this
The cap (capacitor) is the blue things. You need to get one just like the one on the left side and solder it in between the two wires on the right.
Then re-test.
Is this something you are up for? it is easy,,, but only if you have a soldering iron.
So that short red wire barely sticking out was for the cap to gnd then? And there are three red wires in that area?
So that short red wire barely sticking out was for the cap to gnd then? And there are three red wires in that area?
As for where to get it,,, You might get lucky and find them at Radio Shack. (or not) Or digikey. com
They should be 10v 100uF caps but it would be more important to make sure they are the same to keep things balanced. the ones you have may not be that and there are several different ones that you could use. So pull out the magnifying glass and see if you can read it.
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Cool that you and hubs are getting into mods. This will be fun!
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Hey gummy.... are you POSITIVE we need an output cap? The atty doesn't care about ripple, and it doesn't have much inductance, but maybe the chip has to have it for some reason..........
I mentioned there were 3 red wires in the neighborhood including the one going to the battery as they all sort of get lost in the glue there. But the detached ought to be black as it should go from the cap to gnd indeed.