Also:
It is possible that, since the pink wire is tied to the Black (Ignition power) on the bike, the START button might be the 'grounding type' as was found on the pre-1974 CB750 and the CB500. On those bikes, the START button simply connects to the handlebar (which should be grounded through the triple tree, sort of...) when pressed. So, the other side of the Start Solenoid should then get +12 volts (Ignition) power when the key is ON. In effect, this reverses the direction of the current through the Start solenoid, but it does not care about that: it will still pull in when powered, and engage the big contacts.