First, do both relay's click in turn when the throttle switch is moved into the appropriate positions? (Probably not since both have to be working w the cowl switch not having an issue) Assuming not then and just the "up" clicking and w a new switch at throttle w no change. Also swapped relay's(wasn't necessary due to cowl/motor switch telling you they both were good), no change......Sounds like there is an open wire between the throttle switch and the down relay eh?
Try this to confirm my guess..... With power OFF and everything back together/in place(relays, connectors and such), open up the throttle to get at the T/T switch again, should be a blue wire and a green wire attached to the switch. Using an ohm meter w one lead connected to a known good ground(engine block/batt. neg. post preferably) and
w/o pressing the(any) switch, measure both the blue and green wires(leaving them connected to the switch is fine). The blue reading should match the green reading pretty closely(around 100 ohms if I recall right). My guess is that the green reading will be waaaaaay high/open.
Sry no print on that new of engine here, I run ooooold stuff, BUT the good news is new or old, the T/T's are still all fairly simple and have stayed pretty much the same over the yrs.