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I'll chime in with a possible yes- you can't just through whatever resistor in there which I'm sure you're aware, but if the resistor wire is only supposed to be 1.5ohms, then yes, that would work. In your case, I'm curious because your voltage change is supposedly 10-25% less than your supply...
I'm a SeaDoo mechanic and maintain 2 Stroke Mercs, having one in the same era, but recently while restoring a ski on the lift dockside, one of my lakes marina users asked me to look at his zodiac. My SeaDoo reader doesn't hook to Mercury readers yet, but the complaint is the engine turns over...