Ok, an update for ya:
I pulled the old voltage reducer and cracked it open. As I mentioned earlier, the schematic shows it as a resistor, but would more accurately depict it as a variable resistor, at least that is how I think it is supposed to function. It consists of what I'm guessing to be thermally reactive metal arm with a contact on one end, and a thin coil of presumably resistive wire around the arm. Definitely reminds me of an old external voltage regulator.

I installed the electronic voltage reducer, and discovered the hard way that It's not reverse bias protected, oops! Easy to make a mistake installing something when you can't see what you're doing.

I ordered another, I'll see if I can pay more attention this time.